Frank H. Black and his firm, Southeast Investments N.C. Inc., failed to retain business-related emails and to achieve compliance with applicable securities laws, according to the Finra panel's decision.
The regulator's acting chairman says he prefers that agency employees conduct exams.<a href="http://www.investmentnews.com/article/20170306/FREE/170309954/sec-enforcement-unit-bracing-for-budget-cuts-under-trump" style="color:#b10816" target="_blank">​ <i><b>(More: SEC enforcement unit bracing for budget cuts under Trump)</b></i></a>
If nothing else, the dollar amounts should be adjusted for inflation.
The FAQs encourage investors to press their advisers about whether they are fiduciaries.
The firm will make a final payment to investors who bought promissory notes issued by MedCap, a $1.7 billion Ponzi scheme sold mainly through independent broker-dealers.
President Trump did not mention it in his speech Tuesday, and a replacement bill is not getting the support it needs to make it through Congress
There will be a 15-day comment period on the proposal to extend the applicability date of the rule, beginning from the time the proposal is published in the Federal Register, scheduled for Thursday. The proposal also invites a 45-day comment period regarding the "examination described in the President's Memorandum."
The lawsuit is similar to ones filed against other insurance companies in recent years, which challenge the fee levels received by the firm versus a fund's subadvisers.
After an erratic five weeks in office, Mr. Trump's speech makes him 'more presidential.'
More than 20 claimants initially sought $8.8 million in damages and costs after a Morgan Keegan adviser allegedly misappropriated their funds.
Agency will need more than two months to conduct assessment of regulation directed by President Trump.
In a posting on its <a href="https://www.reginfo.gov/public/do/eoDetails?rrid=127214" style="color:#b10816" target="_blank">website on Tuesday morning</a>, the Office of Management and Budget also noted that it changed the designation of the delay to "economically significant."
Office of Management and Budget designates the delay 'economically significant,' making it more difficult for DOL to justify stall.
Acting Securities and Exchange Commission Chairman Michael Piwowar outlines ways to help 'forgotten investor,' but fiduciary duty is conspicuously absent.
The firms and advisers that are able to embrace the shift from a sales culture to one comprised of goals-based planning will thrive.
Nearly two-thirds (64%) of broker-dealer advisers plan to shift more of their business to a fee-based model if the Department of Labor's fiduciary rule is put into effect, according to a report from Cerulli Associates.
Automatic-enrollment IRA programs would encourage employees to save for retirement.
Michael Piwowar says opening sales of private placements to ordinary investors would boost returns, portfolio diversification
Opponents of rule seek to overturn loss in district court.
