Analysis of cutting-edge securities industry issues
One of the greatest philosophers of our time, Yogi Berra, must have had the debate over the uniform fiduciary duty standard when he penned this line. Yes, believe it or…
Continue Reading “It’s Deja Vu All Over Again”; The Uniform Fiduciary Duty Standard
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
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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…
The SEC’s obligation to review its proposed rules through a cost-benefit analysis has been under fire for quite some time. More recently, the SEC has been especially criticized in failing…
Continue Reading Will The SEC Address Its Cost-Benefit Analysis?
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
Chairman Ketchum is seeking new areas of growth for FINRA. At FINRA’s annual meeting, Ketchum stated that he wanted to see FINRA take on the role as regulator for both retail professionals…
Continue Reading FINRA Seeks Expansion At A Time Of Contraction
The Department of Labor has a rule pending that would impose a fiduciary duty standard for investment advice pertaining to retirement plans. Like the resistance faced by the SEC in…
Continue Reading Could the Department of Labor’s Fiduciary Duty Standard Be the Next To Go?
The 11th Circuit Court of Appeals recently vacated a FINRA arbitration panel arbitration award because the panel had failed to decide if the securities firm had waived its right…
