Regulatory & Compliance

Regulatory & Compliance (282)

Goldman Sachs Bankers Charged with Insider Trader

Woojae "Steve" Jung and an unnamed co-conspirator have been charged with trading on material nonpublic information that Jung accessed while working at an investment bank, which appears to be Goldman Sachs based on FINRA records. So reports CNBC. Read more...

Fifth Third Reaches $6M Annuities Settlement

Fifth Third Securities has agreed to pay a $4 million fine and $2 million in restitution to settle FINRA charges. So reports BIC. Read more...

Resignation of SEC's Piwowar Casts Uncertainty on Rulemaking

Securities and Exchange Commissioner Michael S. Piwowar, who is a Republican, is resigning from his post, which will create an even spilt between Democrats and members of the GOP who are charged with rulemaking. So reports Seeking Alpha. Read more...

AARP, Three States Seek to Preserve Fiduciary Standard

The AARP and the states of California, Oregon and New York have asked the U.S. Court of Appeals to hold a rehearing before the three-judge committee that vacated the Department of Labor’s Fiduciary Standard. So reports ThinkAdvisor. Read more...

SEC Warns Advisors About Overbilling Clients

The Securities and Exchange Commission has issued a warning to advisors regarding frequent overbilling. So reports Forbes. Read more...

Whistleblower: FINRA Isn’t Keeping Investor Data Secure

In a complaint filed with the Securities and Exchange Commission, a whistleblower is maintaining that the Financial Industry Regulatory Authority (FINRA) and other regulators have failed to keep investor data, such as Social Security numbers, secure. So reports Bloomberg. Read more...

CFP Board Expands Fiduciary Standard

The Certified Financial Planner Board of Standards board has expanded its ethics rules to now require CFP holders to act as fiduciaries at all times when working with clients. So reports Think Advisor. Read more...

SEC to Increase Exams This Year

An internal reorganization with the Securities and Exchange Commission is allowing the regulator to increase the number of advisors that it subjects to examinations this year. So reports Financial Planning. Read more...

Rules to Protect Seniors Go Live

Two new rules intended to protect seniors went live earlier this month. With that, financial firms must now make "reasonable efforts" to get information for trusted contact persons on behalf of clients. So reports ThinkAdvisor.

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Advisor Jailed for Stealing from Elderly Blind Woman

Jeffrey Lewis, who is a former financial planner, has been sentenced to 33 months in prison for stealing $455,000 from a 94-year-old blind woman in Mercer County. So reports the Pittsburgh Post-Gazette. Read more...

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