Legislation And Regulation
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Quantity does not equal quality: Expanding 'disclosure events' on BrokerCheck a bad idea
Brokerage industry is only one in which professionals as deemed guilty until proven innocent.
Under Finra proposal, brokerages will be forced to conduct background checks on new brokers
Regulator would also cross-check broker disclosures against public court documents.
Ketchum calls controversial automatic data collection key to catching rogue brokers
Exclusive: Having pulled back efforts to become the regulator for advisers, Finra CEO Ketchum has plans to discuss BrokerCheck at this month's board meeting.
Brokers' test failures raise red flag
Analysis finds brokers who fail basic securities exams have more dings on BrokerCheck.
Finra sends expungement rule to SEC; plaintiff's lawyer says won't have an impact
If approved, rule would prohibit investor complaints from being contingent on clearing a broker's record.
Finra gets arbitration process back on track in Puerto Rico
After several months of deliberations, Finra has expanded its pool of arbitrators and is ready to move forward with the hundreds of complaints related to collapses in Puerto Rico bond funds. That doesn't necessarily mean smooth sailing.
When a regulator like Rick Fleming sounds more like a politician, it could be a good thing
The new SEC investor advocate establishes the narrative with story about his upbringing.
Finra review of old rules could lead to changes
B-D regulator picks communications and gratuities — areas with plenty of complaints, questions — for initial focus.
Ketchum says Finra is backing off adviser oversight: Report
Regulator's CEO says chances of success are thin but agrees that adviser oversight needs improvement.
Take the quiz: Are your client review tactics compliant?
Now that the SEC has allowed advisers to use third-party client reviews on their websites or social-media pages, it's time to figure out what kinds of uses will run afoul of industry regulators. Test your compliance knowledge with these five client review sharing scenarios to figure out if you're
Finra reviews effectiveness of broker-dealer rules
Tackles broker communications with the public as well as gifts, gratuities and non-cash payments; will look at other regulations.
Ex-UBS broker awarded $5.4 million in case over Lehman notes
A Finra arbitration panel has ordered UBS Wealth Management Americas to pay one of its former brokers $5.4 million for representing structured products from Lehman Brothers as being suitable for clients even as Lehman began to falter.
UBS, Merrill push to keep bond fund hearings in Puerto Rico
In confidential meeting, firms' attorneys oppose allowing arbitration cases to be heard in Southeast venues.
Former Vermont securities director joins LPL as a compliance officer
John Cronin will oversee supervisors in the Northeast; 'it's like hiring an IRS guy to be your CPA.'
SEC commissioners push back against systemic designation for mutual funds
Two on panel annoyed with regulatory action on "too big to fail"; Gallagher says asset managers shouldn't be considered systemically key.
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February 27, 2014