Regulatory & Compliance

Regulatory & Compliance (282)

Ex-Merrill Rep Swindled Pastors, Churchgoers: SEC

The Securities and Exchange Commission charged Phillip W. Conley, an ex-Merrill Lynch registered representative, with a scheme that included “Ponzi-like payments.” So reports Think Advisor.


FINRA to Adopt SEC’s Approach to Reg BI, Form CRS Exams

FINRA said yesterday that broker-dealers can expect the agency to take the same approach to Reg BI and Form CRS compliance exams as the SEC. So reports Think Advisor.


Ric Edelman to Congress: Waive Retirement Account Distribution Requirement

Financial advisor Ric Edelman, founder of Edelman Financial Engines, is calling on Congress to immediately pass legislation that would waive a requirement mandating that Americans 72 years old and older take a Required Minimum Distribution for their retirement account.


Massachusetts to Impose a 'True Fiduciary Conduct Standard'

Bill Galvin, the Massachusetts Secretary of the Commonwealth, has filed a statewide regulation that he says “will impose a true fiduciary conduct standard in Massachusetts.” So reports Financial Planning.


Bloomberg Wants to Bring Back Fiduciary Standard

Mike Bloomberg, billionaire and contender for the democratic presidential nomination, released a four-page retirement security policy agenda last week that includes restoring the Labor Department’s fiduciary rule. So reports Investment News.


Ex-Ameriprise Adviser Heading to Jail for 11+ Years

Former financial advisor Li Lin Hsu, 42, is heading to prison for scamming 20 clients out of nearly $8.1 Million. So reports The San Gabriel Valley Tribune.


Ex-Well Fargo CEO Fined $17.5M, Banned from Industry

The Office of the Comptroller of the Currency has banned John Stumpf from the banking industry and fined the former Wells Fargo CEO $17.5 million. So reports CNBC.


SEC's OCIE: Brokers, Advisors an Area of Focus in 2020

The SEC's Office of Compliance Inspections and Examinations (OCIE) announced its 2020 Examination Priorities.


Ex-Football Player Gets 40 Years in Jail Again for Investment, Loan Scheme

Justice has been served for 63 investors who lost $9 million. U.S. District Judge John A. Gibney Jr. sentenced Merrill Robertson Jr., 39. Robertson, a former standout football player at L.C. Bird High School and the University of Virginia to 40 years in prison. So reports The Washington Post


Jefferies to Pay $3.9M to Settle ADR Charges

Jefferies has decided to dish out $3.9 million to settle Securities and Exchange Commission charges of abuses associated with American Depositary Receipts (ADRs). So reports Reuters.


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