1. In A Show Of How The SEC Is Tightening RIA Compliance, A Chicago Advisor Is Barred From Securities Business
(Matching tags: compliance,RIA compliance,sec)

RIAs better be accurate in disclosing how much money they manage. The Securities & Exchange Commission suddenly seems interested in such disclosures. Umesh Tandon, 37, owner and chief compliance ...

2. SEC Approves New Identity Theft Rules
(Matching tags: sec,ID Theft,identity theft,SEC Rule)

According to a new rule adopted by the SEC on April 10 financial firms will be required to establish identity-theft prevention programs.   ...

3. Identity Theft Rule Adopted By SEC; Provides New Guidance And Red Flags About How BDs and RIAs Must Protect Clients
(Matching tags: sec,identity theft,compliance)

The Securities and Exchange Commission yesterday adopted rules requiring broker-dealers, mutual funds, investment advisers, and certain other entities regulated by the agency to adopt programs to detect ...

4. Former SEC Chair Schapiro Reportedly Joining Consulting Firm; Another Former Regulator Cashes In On Contacts In A Subtle, Legal Form Of Corruption
(Matching tags: regulation,sec)

With the news today that former Securities and Exchange Commission Chair Mary Schapiro is taking a job at Promontory Financial Group, another powerful former regulator is headed to a lobbying and consulting ...

5. One-Time CFP, Long-Time Financial Planner Charged With Stealing Client Money On Top Of Previous Charges Of Tax Fraud
(Matching tags: fraud,sec)

A one-time CFP who was criminally charged with tax fraud in January had his assets frozen yesterday after the Securities and Exchange Commission filed a civil complaint against him, his firm, and his partner ...

6. News Analysis: The Real Story Behind The SEC Warning That It Has Found “Widespread” Violations By RIAs Of The Custody Rule
(Matching tags: RIA compliance,Dodd-Frank,sec)

The Securities and Exchange Commission’s Office of Compliance Inspections and Examinations today warned RIAs that it is finding “widespread” non-compliance with the custody rule under ...

7. SEC Staff Says It Will Make Conflicts Of Interest Of Dually-Registered RIAs An Areas Of Focus Of RIA Examinations In 2013
(Matching tags: compliance,sec,RIA compliance)

  The Securities and Exchange Commission is focusing inspections of RIAs on conflicts of interest that rise from being dually registered with a broker-dealer as well as an RIA. The agency says its ...

8. Former SEC Chair Levitt Says Since SEC Did Not Pursue Money Fund Reform, FSOC Certainly Should
(Matching tags: marketing,mutual funds,sec)

Former SEC chair Arthur Levitt says the SEC blew its chance to fix the money fund problem. He refused to sign a letter prohibiting another regulatory body (namely, the Financial Stability Oversight Council ...

9. If SEC Won't Fix Its Own Problems, Other Regulatory Bodies Will
(Matching tags: Dodd-Frank,regulation,sec)

Taxpayers have been waiting since 2008 for the SEC to take action to prevent a repeat scenario of the worst economic crisis since the Great Depression.   But the Financial Stability Oversight ...

10. SEC Will Not Be Able To Implement Dodd-Frank Fully If Sequestration Hits And Budgets Are Not Increased
(Matching tags: deficit,sec,staff)

SEC chair Elisse Walter says the commission cannot implement fully the reforms dictated by the Dodd-Frank Act unless Congress grants a budget increase.   The SEC as well as other financial regulatory ...

11. Massachusetts Calls On SEC To Prohibit RIAs From Using Mandatory Arbitration Clauses, Saying It Is "Troubling," Widespread And Not Consistent With Fiduciary Practice
(Matching tags: RIA compliance,RIAs,compliance,Dodd-Frank,fiduciaries,sec)

The Secretary of the Commonwealth of Massachusetts, in a public letter, is calling on the U.S. Securities and Exchange Commission to prohibit Registered Investment Advisers from inserting mandatory arbitration ...

12. POGO Report Shows Possible Influence Of Wall Street Executives On SEC Policy And Enforcement Decision Making
(Matching tags: Morgan Stanley,sec,regulation)

A report published by the Project on Government Oversight (POGO) just a few weeks after Mary Jo White was nominated to head the SEC shows that there was a revolving door between Wall Street executives ...

13. Probes Into Standard & Poor's Over Role Ratings Played In 2008 Mortgage Crisis Expanding To Fitch And Moody's
(Matching tags: Mortgage Securities,securities fraud,sec)

  New York top prosecutor Eric Schneiderman went after Standard & Poors ratings agency this week. He also submitted inquiries for information from Fitch Ratings and Moody’s Investors Service. ...

14. FBI And SEC Look Into Early Release Of Economic Information Tied To High-Speed Transmission Systems
(Matching tags: economic indicators,sec,high-frequency trading)

Some leading financial media companies may have used high-speed transmission systems to access economic data a fraction of a second ahead of the official release, giving some investors a trading advantage. ...

15. SIFMA Lobbies Against Labor Department Mandate To Spin Off Bank Derivatives Departments
(Matching tags: banks,SIFMA,sec)

The Securities Industry and Financial Markets Association (SIFMA) is lobbying against efforts by the Labor Department to mandate the spinoff of bank derivatives departments.   The proposed Volcker ...

16. Mary Jo White Slated To Head SEC; Weekly Unemployment Claims Drop Unexpectedly
(Matching tags: economy,securities fraud,sec)

Reportedly, attorney Mary Jo White has been picked by President Obama as the next head of the Securities and Exchange Commission. She is a William & Mary graduate with broad experience in prosecuting ...

17. Walter Cites Dodd-Frank And The JOBS Act As Priorities In Her First Communication As SEC Head
(Matching tags: Advisor businesses, Dodd-Frank,sec)

Elisse Walter identified Dodd-Frank and the Jumpstart Our Business Startups (JOBS) Act as top priorities for 2013 in her first speech as head of the SEC.   Despite currently being short one ...

18. Entrepreneurs Are Popping Up Websites In Anticipation Of Crowdfunding Rules; SEC Is Already Looking For Possible Risks To Investors
(Matching tags: investing,regulation,sec)

Entrepreneurs are wasting no time popping up websites in anticipation of the new crowdfunding rules; neither is the SEC.   Over 200 websites are being scrutinized by regulators for possible ...

19. In SIFMA's Push For SEC To Resume Focus On Fiduciary Standard, It Stipulates Not Subjecting Reps To 1940 Investment Advisors Act
(Matching tags: Dodd-Frank,SIFMA,sec)

SIFMA is pushing for the SEC to resurrect its efforts to establish a uniform fiduciary standard that would cover both investment advisors and registered reps.   A stipulation is for the standard ...

20. Controversy Over Recent FINRA And SEC Regulatory Actions Raises Questions Of Investor Trust And Also How These Regs Will Affect Clients
(Matching tags: fiduciaries,FINRA,sec)

FINRA opened the floodgates to broker rage when it put its Proposed Regulatory Notice 13-02 out for comment on January 2. The comment period doesn’t expire until March 5 but comments are already ...