Updated Friday, September 4, 2015 as of 11:43 PM ET
UBS Puerto Rico Losses Mount: Former Clients Win $3M
The firm suffered another arbitration loss this week to clients seeking damages related to the firm's closed-end funds of Puerto Rico municipal bonds.
More in Regulatory/Compliance
Industry arguments against the DoL’s fiduciary rule proposal do not consider the digital revolution in financial advice. more »
Banks and credit unions have traded barbs for years with much of the banks' discontent aimed at credit unions' tax exemption. more »
Getting kicked out of the industry doesn't mean an end to payments from the sale of a book of clients. Plus, knowing whether FINRA’s suitability rule applies to foreign clients. more »
The Board also sanctioned 19 other advisors, including one who allegedly lied about taking an exam on behalf of another advisor. more »
The glitch's impact is widespread. Prudential, for instance, says 40 of its more than 60 funds were affected. more »
Two former advisors allege they were punished and eventually fired for reporting misconduct including trainees and interns entering trades as well as misleading clients during cold calls. more »
RIAs can be an easy entry point for organizations looking to move dirty money and avoid other financial entities that have formal AML procedures in place, says FinCEN. more »
The Wall Street regulator hit Charles Schwab with the penalty for net capital deficiencies and supervisory failures. more »
The advisor, who worked at U.S. Bank, claimed that he was fired in retaliation for complaining about a co-worker who he felt made unsuitable investments for the advisor's 94-year-old client. more »
Fiduciary advocates question the math behind the opponents' estimate, calling it an "Alice in Wonderland report" without backing. more »
Marzano Capital Group joins LPL-affiliated recruiting firm Independent Advisor Alliance. more »
The Federal Trade Commission has closed its investigation of Morgan Stanley's massive data breach. It has identified the problem that allowed the breach to happen: access controls to a narrow set of reports were improperly configured. more »
The two Citigroup companies agreed to $180 million on Monday to settle charges they defrauded investors by claiming the investments in two now-defunct hedge funds were safe, low-risk and suitable for traditional bond investors. more »
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