Updated Wednesday, October 1, 2014 as of 4:21 AM ET
Morgan Stanley Claws Back $3M From Tarnished Broker
A FINRA arbitration panel ruled a broker caught in an insider trading scandal must pay back over $3 million to Morgan Stanley.
More in Regulatory/Compliance
FINRA has issued a long-awaited regulatory notice outlining the proposal for a controversial data-sharing system known as CARDS, asking for comments from the industry and other stakeholders. more »
FSI sees the new insurance coverage as an added benefit the group hopes will help it increase membership and amplify its advocacy efforts. more »
Nearly 40% of community banks have no plans to introduce new products and services in the next three years, according to a recent survey from the Federal Reserve and Conference of Bank Supervisors. Technology also remains a daunting challenge, along with regulatory changes and other business challenges. more »
Discussing his experience disclosing a cancer diagnosis to clients and other challenging planning scenarios, an ethics consultant offers a number of surprising lessons for advisors. more »
Should small and midsize RIAs be required to have a succession plan in place for their firms? State securities regulators are asking for input from practitioners as they wrap up the rulemaking process. more »
Bill Gross's Pimco Total Return ETF is being investigated by the SEC over whether it artificially inflated asset prices to boost returns, according to the Wall Street Journal. more »
The SEC has initiated an administrative proceeding against an advisor who allegedly misappropriated around $2 million of investors' funds in a scheme dating to 2008. more »
Consumer and industry advocates are criticizing FINRA over its alternative to a proposal that would have required recruiting firms to disclose advisor compensation incentives to clients when moving between brokerages. more »
The Securities and Exchange Commission will probably use emergency court action to stop state and local governments from selling municipal bonds if it thinks their offerings are fraudulent, an enforcement division official told bond lawyers meeting here. more »
"Any effort to put broker-dealers and advisors into the same box is probably not going to work," says a former deputy director of the SEC's Division of Investment Management. more »
Ane S. Plate was banned for allegedly looting more than $140,000 from a customer account. more »
Sales and advice should be separated by law, because there’s a clear difference between true "fiduciary" practices and those of the brokerage industry, Fiduciary Institute says. more »
"We want to focus on what advisors can do to prepare for the next generation or two," says NAPFA chair Robert Gerstemeier. more »
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