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Articles tagged "FINRA"

Daniel Bernstein: If an advisor posted that they 'held a great meeting on 401(k) plans,' and someone 'liked' it, it could be construed as a testimonial.

SEC sends sharp warning to advisors using social media
RIAs have to make sure they don't get 'liked' on popular websites like Facebook

Friday 1.6.12
Brooke Southall: The RIA business needs to be alert to the danger of becoming something uncomfortably similar to the world of banks, brokerages and trust companies that it is trying to reinvent.

Nine threats to the RIA business and how they can be avoided
The fragmented 13,000-firm army is poised for great things but too much focus on expediency could bring its own problems

Monday 11.14.11
Brian Hamburger says the latent threat of FINRA is that RIAs will lose their individuality and become like big-box stores

Brian Hamburger answers the questions about an SRO future that has RIA stomachs in turmoil
The MarketCounsel Summit undercurrent revolves around FINRA fears, so Dina Hampton put the compliance expert on the spot about how the scenario could unfold

Friday 10.14.11
Brian Hamburger: Rowe faces an uphill battle if he relied on oral statements.

RIA loses $10 million case against Raymond James the old-fashioned way
The case may have turned on the validity of written versus oral agreements

Thursday 8.18.11
Maria Marsala: If your firm doesn't have a written social networking usage document, get involved with creating one. Volunteer as a test case.

Top 10 tips for the 'social' financial professional when creating your LinkedIn profile
A search will often produce a professional's LinkedIn profile before his or her website.

Friday 8.12.11
Les Abromovitz: In a discussion of this issue, one attorney at NCS argued that the individual was giving the Facebook page a thumbs-up, not the advisory firm. It remains to be seen if regulators will make that distinction.

Why compliance experts are apt to dislike Facebook
When does a click constitute an endorsement?

Friday 5.13.11
Advisor Donald Purtill: The government’s records are fine. They have all of the right information and anyone can see it.

Under fire, BrightScope says it will allow advisors to update simple information for free
Company slams SEC as obstructionist

Thursday 5.5.11
Troy Paredes: The SEC commissioner also spoke, advocating for a regulatory regime that's easier on small firms ‘We should reject a one-size-fits all regulatory regime,” he said.

Eavesdropping on the IAA: JP Morgan exec challenges advisors on FINRA
SRO remains overarching concern; many advisors haven't finished their ADVs; anxiety rises about 'the switch'

Friday 3.11.11
Tom Bradley: Let’s not exclude any option out of emotion.

Tom Bradley makes the case for regulatory efficiency -- and maybe, FINRA, especially for the dually registered
TD Ameritrade's chief says it's too soon to reject any idea out-of-hand.

Friday 2.11.11
Rick Ketchum: The SEC has acknowledged that it cannot oversee advisors with its current level of funding.

Rick Ketchum reveals plan for advisor oversight at FSI conference
FINRA CEO promises light touch on rules, lays out political strategy

Tuesday 2.1.11
Brian Hamburger: The SEC is lining up the facts so that later the conclusion becomes obvious (it can’t regulate advisors with current resources). ... It’s genius, what they’re looking to do, but it’s incredibly transparent.

The RIABiz list of winners and losers in the wake of the SEC's fiduciary study
The race is on as laggards adapt to new vision of the future

Friday 1.28.11
Alex Potts, CEO of Loring Ward: "To throw more bureaucracy at a system that has been working well ... it almost makes you cringe."

Six things to know about this week's big DC news
RIAs have the winning business model, but also more competition

Friday 1.21.11
Mary Schapiro:A fiduciary owes its customers and clients more than mere honesty and good faith alone.

How 10 top groups define 'fiduciary'
Obama administration, SEC, FINRA, FPA, fi360, U.S. Supreme Court and SIFMA raise fiduciary bar to different heights

Friday 1.21.11
Nick Georgis: Schwab has had conversations with SEC staff.

Schwab takes high-profile stand opposing self-regulatory organization for advisors
Largest custodian opposes FINRA on heavily lobbied issue

Friday 1.14.11
Skip Schweiss: "I had in mind that some organization that is familiar with the fiduciary standard practiced by RIAs would set the standards, then perhaps an organization like FINRA could lend its examination expertise/process/infrastructure."

Advisory factions steel for end game as SEC's verdict on FINRA SRO comes down
As action moves to Congress, a flurry of meetings and Schwab's appearance

Friday 1.14.11
Alan Foxman: Is arbitration the greatest thing since sliced bread, or is it the proverbial kangaroo court?

In the duel of FINRA vs. state courts, one comes out on top for most advisors
Rarely seen stats shed light on whether you are more likely to win in arbitration

Thursday 1.13.11
Kristian Colvin: I’m not sure why they made such a stink of me leaving.

How Schwab failed to block one broker's breakaway and what the legal battle may mean for the future
Industry insiders say they're stunned by a recent courthouse loss

Tuesday 1.11.11
Tea Partiers such as Michele Bachmann may change the enforcement landscape for investment advisors by putting some agencies on starvation budgets.

The 7 government actions that could reshape the advisory business in 2011
Funding may derail some grand plans, but regulations roll on (and so do tax threats)

Friday 1.7.11
Ron Rhoades' crystal ball extends to 2025 when Americans finally say 'uncle' to another 15 years of having brokers' interests go first.

Why a swing-and-miss on fiduciary standards will haunt us for decades
An ounce of good sense now could save the U.S. economy a pound of unnecessary pain downstream

Thursday 12.23.10
SEC headquarters has seen plenty of traffic lately, as companies and lobbying groups send execs aiming to influence a pending report on advisor oversight.

Most RIAs prefer to pay money for SEC exams now than pay in blood later under an SRO
TD Ameritrade survey comes as resistance to FINRA empowerment wells up from wide array of organizatioms

Friday 12.10.10
David Massey, NASAA president, is arguing that the SEC has the bandwidth to continue regulating advisors.

Is FINRA oversight a fait accompli? It's starting to feel that way.
IAA's Tittsworth says advisors still have the chance to play up small-business angle to submarine legislation

Tuesday 11.23.10
Les Abromovitz: Some advisers designate one particular person who is responsible for addressing questions pertaining to seniors.

When it comes to senior investors, regulators are breathing down your shoulder
A Colorado advisor who oversold hedge funds may pay a price

Tuesday 9.21.10
Summer's last gasp: Advocates for advisors and broker-dealers were putting in long days to prepare comments on the fiduciary standard to send to the SEC's Mary Schapiro and the other commissioners.

Old foes in the fiduciary debate join new battle to sway SEC's six-month study
Advocates were working down to the wire to submit comments by the end of yesterday

Tuesday 8.31.10
Ron Rhoades: Many RIAs rightly question the utility of limited inspections by regulators.

One-Man Think Tank: The SEC's custody examinations leave gaps big enough for Madoff to drive a bus through
How to reassure clients who are seeing Ponzi after Ponzi unveiled

Tuesday 7.27.10
Kristina Fausti: We've entered a new regulatory era that calls for greater transparency and accountability.

How financial reform gives the SEC new bite; plus at least five other things advisors ought to know about the legislation
The new financial world will be constructed mostly out of the public eye, as regulators begin studying 150 issues Congress punted to agencies

Monday 7.26.10
Eugene Steuerle explains why it's often better to spend your 401(k) for a year or two before delving into Social Security

RIABiz Conversations: Eugene Steuerle answers RIAs' technical questions about how to use Social Security as an annuity
Plus, a debate you may have missed on Harold Evensky's FINRA comments

Tuesday 7.20.10
Ron Rhoades: It is time for FINRA to be dismantled.

One-Man Think Tank: Six reasons that FINRA should be dismantled
Insuperable issue: Each FINRA firm has an equity interest in FINRA - and would be entitled to a slice of its billion-dollar war chest

Wednesday 7.14.10
Harold Evensky: Although [shunning FINRA] may provide a temporary visceral high, it is counterproductive and unprofessional and will result in our voices being ignored

Why Harold Evensky believes that a FINRA-as-devil attitude is counterproductive
The fiduciary standard-bearer is optimistic that FINRA can make fiduciary standards work in the 'real world'

Wednesday 7.14.10
Mark Tibergien: To advisors, broker-dealers are the Soviet Union and FINRA is the KGB.

Why advisors see FINRA as the devil
A conversation with Richard Brueckner and Mark Tibergien lends perspective to this widely held view by RIAs of the b/d regulator

Tuesday 6.22.10
If Congress passes financial reform, it only sets the stage for a new host of FINRA, SEC and DOL issues

Regulatory Wire (Updated): To create a successful new regulatory regime, the biggest fears of both broker-dealers and advisors must be assuaged
Plus, a DOL administrator offers hints of new 401(k) regulations to come this fall

Friday 5.14.10
David Bellaire: Improving regulatory examination and enforcement for investment advisers and broker-dealers is more complicated than changing the responsible regulator or throwing money at the problem.

Debate continues: Fiduciary standard no panacea
Financial Services Institute advocates for study, deliberate look at investor protection

Thursday 5.6.10
FINRA, SEC and NASSA offer guidance on the suitability standard

The suitability standard, defined
If you've wondered, as we have, exactly what it says, wonder no more

Wednesday 5.5.10
Ron Rhoades: When will Congress stand up to Wall Street?

One-Man Think Tank: When Wall Street has investors' 'best interests' at heart, watch out
As Senate is poised to take up reform, Ron Rhoades contends the movement to create a "new" fiduciary standard is a campaign of disinformation

Tuesday 4.27.10
Ron Rhoades: The more you make brokers and advisers look the same, the more likely it is that FINRA will end up regulating them all.

What financial advisors can expect from Washington this spring: 8 predictions
Financial reform will move forward, but regulation will move backward

Monday 4.5.10
Sen. Herb Kohl favors disclosure by planners of conflicts of interest and compensation.

Proposal would sweep RIAs, planners, brokers into one huge regulatory pool (Updated)
New board promoting the fiduciary standard would oversee 75,000

Wednesday 3.10.10
Bernie Madoff did his part to help increase attendance at the Investment Adviser Association’s annual compliance conference

Four hot topics in compliance from the IAA conference
The mutual fund and ETF question gets looked at from a regulatory standpoint

Monday 3.1.10
Neil Simon: What we are facing... is the possibility of the end of the regulatorily-distinct investment advisory profession

Top RIA lobbyist says insurance foes have been 'more effective' in fiduciary battle but urges patience
Neil Simon: Supporters of a strict fiduciary standard can prevail with an effective end game

Monday 3.1.10
Les Abromovitz: When the SEC takes a stand on social media, it is likely to reach many of the same conclusions

FINRA guidance may help RIAs avoid social media blunders
Even employees' LinkedIn profiles ought to be supervised

Friday 2.26.10
Tim Johnson: Proposing a study instead of immediate reform of fiduciary standard

Johnson amendment a stalking horse for FINRA oversight of RIAs?
Advisor groups say legislative language lays ground for shift or regulators; others see it is a 'prudent measure'

Thursday 2.18.10
Washington's attention to financial advice is a major step in its evolution

Part Two: The last advice model standing
Five links on the evolutionary chain toward a profession

Monday 2.15.10
Ron Rhoades: Increasing attention is now being given to FINRA’s failures as a regulator

7 reasons why wirehouses shouldn't milk the old business model
Once the chief protector, FINRA and its lapses may contribute to brokers' darkening picture

Thursday 1.28.10
Hybrid tomatoes have their advantages and so do hybrid RIAs

5 Reasons why the hybrid RIA model may be a bigger deal than ever
Someday all advisors could be hybrid-like under FINRA

Thursday 1.14.10
Mary Schapiro: When investors receive similar services from similar financial service providers, they should be subject to the same standard of conduct

'Unthinkable' progress was made on creating a new regulatory world for advisors in 2009
Change is in the air but upcoming Senate elections complicate prospects for 2010

Thursday 12.17.09
Andy Hyer: Blogs help promote an advisor’s business without being pushy.

Blogging: The costs and risks of hoarding your thoughts are rising
It's a new way for financial advisors to stay relevant with clients

Wednesday 12.16.09
Les Abromovitz: Not surprisingly, advisors' hypothetical case studies have happy endings.

Advertising practices that can raise the hackles of regulators
Photos, staff plaudits and hypotheticals are still testimonials by any other name

Thursday 11.19.09
Martin Kurtz: "The concerns around FINRA is that they've been in the suitability world; we're saying that this is a fiduciary world."

Martin Kurtz, president of Financial Planning Association for 2011, will take pragmatic approach
Electee has concerns about FINRA's historical 'suitability' mindset

Friday 11.13.09
Edelman: "Organizations suffering from internal disarray are ignored by legislators and regulators."

What's going wrong for RIAs on Capitol Hill?
RIAs brace themselves as Senate committee takes up financial reform

Wednesday 11.11.09
David Tittworth: "It's pretty bad."

Worst of both worlds looms for RIAs in Washington
Act would gut the authority of SEC over RIAs while doubling its budget

Wednesday 11.4.09
Patricia Struck: “The states are almost uniformly in a good position to take on more oversight,”

The big change RIAs should expect when the SEC punts to the states
Advisors under states see more audits, tougher registration requirements and busybody lawmakers

Wednesday 11.4.09
Obama's quest for harmony may create dissonance for RIAs

Eight things necessary to keep RIAs from answering to SIFMA
Multiple strategies needed to counter deficit in numbers

Thursday 10.15.09
Barney Frank on state regulators: “You have been an improvement on the federal regulators.”

Feds happily punt to states on advisor oversight
Move would take 33% of RIAs off of SEC's plate

Tuesday 10.6.09
David Tittsworth goes to bat for RIAs today [Tuesday]

Showdown set over whether RIAs stay under regulatory authority of the SEC [Updated!]
SIFMA and FINRA may play for regulatory control

Tuesday 10.6.09
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