|Comments Off on Biz Group Loses Stay Bid In DOL Fiduciary Rule Challenge

A D.C. federal judge on Wednesday denied a renewed request by a financial services industry group to block the U.S. Department of Labor’s rule expanding the definition of a fiduciary for retirement account investment advisers, saying the court had already determined the DOL’s interpretation was reasonable.

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|Comments Off on FINRA Fines Ameriprise For Missing Fraudulent Transfers

Ameriprise Financial Services Inc. agreed Wednesday to pay a fine to settle the Financial Industry Regulatory Authority’s claims it failed to catch and stop a sales assistant who was siphoning cash from his relatives’ accounts, even though the firm had just improved its supervisory systems after a similar failure.

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|Comments Off on DOL Gets First Victory In Fiduciary Rule Challenges

The U.S. Department of Labor’s so-called fiduciary rule for retirement account investment advisers was promulgated after an adequate analysis and within the agency’s authority, a D.C. federal judge ruled Friday, giving the government its first victory in one of many challenges to the new rule.

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|Comments Off on Government’s Willful Blindness Theories Put Lawyers At Risk

The government’s recent focus on holding individuals accountable for corporate misdeeds is supporting the rise of aggressive theories of prosecution, including the idea that even absent actual knowledge, they should have known something was amiss — and defense experts say that’s an especially dangerous development for attorneys.

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|Comments Off on State regulators reveal top enforcement targets

Agencies brought more cases against registered advisers than unregistered entities, and certain products featured in many of them

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|Comments Off on SEC Wants Firms To Watch Reps With Troubled Pasts

The U.S. Securities and Exchange Commission announced Monday that it is launching exams to test the compliance oversight and controls of investment advisers that hire individuals with a disciplinary history.

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|Comments Off on 2 Firms To Pay Fines Over Wrap Fee Compliance

James & Associates and Robert W. Baird & Co. agreed Thursday to pay a fine to the U.S. Securities and Exchange Commission over claims they failed to ensure clients enrolled in programs with a single annual fee weren’t being overcharged commissions for certain trades.

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|Comments Off on SEC Says Advisers Must Report Clients’ Derivatives Risk

The U.S. Securities and Exchange Commission said on Thursday investment advisers must disclose more about assets held in separately managed accounts, including their level of exposure to derivatives, cementing rules industry stakeholders previously worried could expose trading strategies.

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|Comments Off on Finra fines UBS $250,000 for overcharging mutual-fund customers

A unit of UBS Group AG will pay a $250,000 fine to settle charges that it failed to waive certain fees for eligible mutual-fund customers, according to the Financial Industry Regulatory Authority Inc.

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|Comments Off on FINRA panel orders adviser to pay $333,000 to Morgan Stanley

A former broker for Morgan Stanley must pay the wirehouse $333,000 in damages for failing to pay back money he owed when leaving the firm in 2013, according to the Financial Industry Regulatory Authority Inc.

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