09/21/2018
Merrill Lynch's Commission Ban Reversal: Here's How Advisors See it Playing Out
In its statement announcing the reversal, Merrill Lynch emphasized the flexibility the decision would provide clients.
Legal, Regulation & Compliance
09/20/2018
Ex-UBS FA Sues to Vacate Finra Award
But the broker is arguing that two of the arbitrators violated the industry’s self-regulator’s procedures, AdvisorHub writes, citing a petition to vacate the award filed in the southern district of New York by Miller’s lawyer.
09/20/2018
Joint statement: Inaugural meeting of US-UK Financial Regulatory Working Group
This cooperation is especially important given transition in the UK’s regulatory relationships as it withdraws from the European Union.
09/20/2018
CADE launches investigation into six Brazilian banks regarding cryptocurrency trading
Brazil’s anti-trust agency has launched an investigation into six of Brazil’s financial institutions as a result of potential illicit trading practices.
09/19/2018
How Misplaced Trust in Advisors Contributed to Massive Fraud Against Pro Athletes
Among the factors that increase the chance of an athlete being defrauded is misplaced trust in financial advisors, business managers and family, according to the report.
09/18/2018
Investors hope central banks will extend a rescue line to ailing emerging markets
The pressure to hike will be particularly strong for Brazil and SA, both of which have seen their currencies plunge this year
09/18/2018
Trade wars step up, more to come
China may bide its time, but we expect they will follow with tariffs on a further $60 billion of imports from the US.
09/17/2018
$150B Money Laundering Probe of Danske Bank Implicates Citigroup and Deutsche Bank
Danish and Estonian authorities have been investigating the bank and have shared information with their U.S. counterparts, several European officials familiar with the matter told the news outlet.
09/14/2018
U.S SEC. Penalizes Crypto Hedge Fund for Violating Securities Law
Founder Timothy Enneking and his company illegally sold stakes in the hedge fund to U.S. investors.
09/14/2018
Seven Tips to Protect Wealthy Families from Cybersecurity Threats
The more money a client has, the bigger the target on their back.
09/14/2018
Goldman Names New President, CFO as Blankfein Prepares to Exit
The bank is reshuffling its leadership as Lloyd Blankfein prepares to retire as chairman and CEO at the end of this month.
09/14/2018
Broker-Dealer to Pay $2.75 Million Penalty for Providing Deficient Blue Sheet Data
The SEC appreciates the assistance of FINRA.
09/13/2018
Massachusetts Securities Regulator Cracks Down on Private Placements
GPB sells illiquid, high-risk, high-commission alternative investments through various independent broker/dealers.
09/13/2018
Pension Fund Pans Banks’ Bid To Escape Rate-Rigging Row
The Fire & Police Pension Association of Colorado argued that since the allegations against the financial institutions arose from transactions in New York
09/13/2018
Blockchain & Bitcoin: Lawyers Need to Get It or Get Out
Another threat to organizations is the rise of cryptocurrency mining malware.
09/13/2018
Hedge Fund Priest Lemelson charged by SEC for alleged stock manipulation
The SEC's complaint said that Ligand's stock lost more than one-third of its value during the course of Lemelson's alleged scheme.
09/13/2018
Divorce Often A Legal Quagmire For Super Wealthy
A spouse who owns and runs a closely held business may be overly optimistic about its value when applying for financing or speaking to investors in the months leading up to a divorce.
09/12/2018
JPMorgan sues ex-advisors for luring clients to Raymond James
JPMorgan claims it was tipped off to the advisors’ actions by clients who complained to the bank about being petitioned to move their business to Raymond James.
09/11/2018
Private Client Resources partners with FundCount
Mike Slemmer, COO, Americas of FundCount, commented: “FundCount delivers efficiency and insight to clients—which comes from being able to account, manage, and report on complex holding structures and the full array of liquid and illiquid holdi
09/11/2018
SEC Bars Former Raymond James Branch Manager
Burstein allegedly helped Quiros misappropriate and misuse more than $21 million in investor funds flowing through several brokerage accounts held at Raymond James, the SEC says.