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Regulator seeks to enlist advisers in war on money laundering
A proposed regulation that would enlist investment advisers in the battle to prevent terrorists, drug dealers and other criminals from laundering their money through the U.S. financial system could be a costly proposition for advisers.On Tuesday, the Financial Crimes Enforcement Network, a unit of
How advisers can help clients arm themselves against data theft
Eva Velasquez, chief executive of the nonprofit Identity Theft Resource Center, gives tips you can implement today.
Get ahead of the worsening news on the IRS data breach
An email to clients is warranted as the number of citizens exposed in the tax hack triples.
SEC fines RIA $2.8 million and bars owner in 'Madoff of Main Street' case
Regulator bars owner of Total Wealth Management, Jacob Cooper, known as 'Main Street Madoff' by former clients, and holds him liable in case where losses are expected to total as much as $44 million.
Ponzi schemer haunts AIG Advisor Group in arbitration decision
FSC Securities is on the hook for a $1.28M arbitration award to investors who were swindled by a notorious con man featured on “American Greed: The Fugitives.”
Legislation would give SEC more time to go after fraudsters
Sen. Reed proposes extending the statute of limitations on securities law violators from five years to 10.
An identity thief explains the art of emptying your clients' bank accounts
Nightfall in Minsk means Dmitry Naskovets begins working the phone. At 24, Mr. Naskovets is tall and skinny, and still looks like the college kid he recently was. He's in his apartment's kitchen, in a respectable neighborhood off the second ring road in the capital of Belarus. He starts around 6
Chamber calls on SEC to reform use of in-house judges
Group says enforcement needs clarity; among 28 recommendations to the agency.
Tipster who ate Post-it Notes in Grand Central avoids fine in insider-trading case
In exchange for cooperating in SEC's ongoing case involving a former Morgan Stanley broker and a former law clerk, middleman Frank Tamayo will pay $1 million in ill-gotten gains, regulator says.
Adviser and former race car driver convicted of defrauding NHL players of $20M
A New York jury convicted a financial adviser and his partner, a former race car driver, in a multimillion dollar fraud that victimized several current and former professional hockey players including forward Michael Peca.
Judge throws out Camarda case against CFP Board
U.S. District Judge Richard J. Leon granted a motion for summary judgment and dismissed the controversial lawsuit against the CFP Board filed by Jeffrey and Kimberly Camarda involving use of the fee-only compensation label.
State regulators work on uniform approach to elder financial abuse
New measures are aimed at encouraging brokers to notify authorities when they suspect someone is trying to scam one of their clients.
Minnesota adviser gets 25 years in prison for Ponzi scheme
Sean Meadows pleaded guilty to diverting $10 million for business and personal expenses, including gambling and “adult entertainment.”
Older clients need more than a retirement plan
Advisers should be prepared to offer assistance for the next set of challenges facing the elderly, including transportation needs and protection from financial abuse.
NBA star Tim Duncan says losses from financial adviser topped $20 million
Future Hall of Famer Tim Duncan says he was pushed into investments despite conflicts of interest; adviser disputes the charges. (Don't miss: Athletes vs. Advisers)