My partner, Ernest Badway, recently blogged about the dangers of a lawyer referring a client to a rogue stockbroker. The question for the broker-dealer/investment advisors is how do you
Continue Reading Who Wants To Know How To Weed Out Rogue Stockbrokers
Ever since Dodd-Frank, there has been much concern in the RIA world regarding who would be its regulator. At this point, RIAs can dispense with any concern that FINRA will
Much like the character in the famous Nathaniel Hawthorne story, FINRA is looking force broker-dealers to wear a mark on all of their social media. FINRA wants to amend Rule
Continue Reading Did You Hear That FINRA May Force BDs To Wear A Scarlet Letter?
The late great comedian, George Carlin, was made famous by his routine, “The Seven Dirty Words You Can Never Say On Televisions”. Likewise, fraudsters do not want compliance personnel to
Continue Reading The Thirteen Dirty Secrets That A Fraudster Does Not Want You To Know?
With the east coast in the midst of Hurrican Sandy, I am sure we are all thinking about a nicer place right now. Apparently, the Seventh Annual National Institute on
Continue Reading ABA Seventh Annual National Institute on Securities Fraud
A simple review of FINRA’s enforcement proceedings demonstrates a new norm; compliance officers are being held accountable as supervisors for rules violations. How can a compliance officer avoid being held
Continue Reading Who Else Wants To Avoid Being Considered A Supervisor?
Although the SEC’s Dodd-Frank mandated report that there should be a uniform fiduciary duty standard for broker-dealers and investments advisers is nearly two years old, we are no closer to
One of the more anticipated and debated outgrowths of the Dodd-Frank Act was the designation of a self-regulatory organization responsible for investment advisers. Yet, it has recently been reported that
The Department of Labor’s head of the Employee Benefits Security Administration recently announced that the DOL is going to coordinate with the SEC on fiduciary policy, but that the DOL
Continue Reading Can The SEC And Department Of Labor Live With One Fiduciary Duty
Last week, the CFTC issued a final rule on the data recordkeeping and reporting requirements for historical swaps. Historical swaps are swaps executed prior to the passage of the Dodd-Frank Act
Continue Reading CFTC Approves Final Rule on Data Recordkeeping for Pre-Dodd-Frank Swaps