Failure to supervise

When compliance doesn’t diligently pursue significant “red flags,” someone is likely going to pay. For Charles Smulevitz and Kevin McKenna, who served successively as chief ...

Five years after Regulatory Notice 10-19, FINRA sees continuing problems with the use – and, in its view, abuse – of consolidated reports. Examiners are ...

Avoid falling short when it comes to the new supervision rules. Heed advice from FINRA Midwest Regional Director Ed Wegener. First, tailor your P&Ps to ...

For the discerning compliance professional, SEC enforcement actions are chock full of lessons learned and tripwires to be avoided. In June 2014, summer school was ...

Responding to deficiencies identified by your regulator with concrete remedies is critical. Actually implementing the pledged solutions on a timely basis is even more important. ...

More and more regulators are mandating that firms in trouble hire independent consultants to address supervisory and compliance shortcomings. IA Watch recently spoke with several ...

Rapid growth via acquisition and aggressive rep recruitment has come at a price for LPL Financial. The nation’s largest independent broker-dealer has been fined $10 ...

This case puts forth that the firm did not have adequate policies or procedures governing the transfer of positions between customers’ accounts, and no set ...

There is room for improvement for brokerage firms conducting business with senior investors say the SEC and FINRA. The regulators would like to see broker-dealers ...

The CTA also failed to maintain required records. DECISION: On April 13, 2015, pursuant to a settlement offer submitted by Wharton Management and Wharton, they ...