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CFTC No Action Relief Regarding Variation Margin Rules

CFTC No Action Relief Regarding Variation Margin Rules The Division of Swap Dealer and Intermediary Oversight of the CFTC provided time-limited no-action relief for failure of a swap dealer that does ...
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SEC Interpretive Letter Permits Brokers to Charge Commissions on Sales of "Clean Shares"

SEC Interpretive Letter Permits Brokers to Charge Commissions on Sales of “Clean Shares” The SEC’s Division of Investment Management issued an interpretive letter expressing its view ...
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FINRA Says UBS Must Pay $9M to Puerto Rican Muni Investor

FINRA Says UBS Must Pay $9M to Puerto Rican Muni Investor "Respondent UBS exercised extreme recklessness and indifference to the consequences of loan recycling by failing to utilize a supervisory ...
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Hedge Funds Can't Sue Over Investments in Fannie and Freddie

Hedge Funds Can't Sue Over Investments in Fannie and Freddie Hedge funds largely failed in their legal challenge to the U.S. government’s capture of billions of dollars in profits generated ...
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SEC clarifies "imputed custody" of assets

SEC clarifies "imputed custody" of assets The SEC said in a no-action letter that an advisor has "imputed custody" of a client's assets if the client has granted even limited ...
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SEC Charges Advisor with Stealing $900K From a Client: Enforcement

SEC Charges Advisor With Stealing $900K From a Client: Enforcement According to the SEC, Carlson directed that checks made payable to the client be issued from the client's account, and then ...
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FINRA slaps LPL with $900000 fine for record-keeping snafu

FINRA slaps LPL with $900000 fine for record-keeping snafu FINRA fined LPL Financial $900,000 for failing to send, or create records establshing that it had sent to customers more than 1.6 million ...
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The Fiduciary Rule: Pros and Cons

The Fiduciary Rule: Pros and Cons Here's what you need to know about the fiduciary rule, and why there is strong opposition to it within the financial industry. Read On
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Computers Start To Take Over List of Most Successful Hedge Funds

Computers Start To Take Over List Of Most Successful Hedge Funds Top hedge funds that use computers and quantitative models to trade financial markets have generated $113 billion in net gains over the ...
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Charges Against Broker Dismissed in $17M Stock Scheme

Charges Against Broker Dismissed In $17M Stock Scheme Guy Gentile, a broker-dealer, was successful in getting a federal judge in New Jersey to grant his motion to dismiss his 2016 indictment on ...
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FXCM banned by CFTC after taking positions against clients

FXCM banned by CFTC after taking positions against clients FXCM has been banned from operating in the CFTC found the retail currency broker had an undisclosed interest in the market maker that ...
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Adviser Gets Go-Ahead to Zap 11 Investor Complaints from Record

Adviser Gets Go-Ahead to Zap 11 Investor Complaints from Record A three-person panel of New York arbitrators told a former broker that he could wipe out 11 customer complaints. If he's able to ...
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Elderly investors win $1.25 million FINRA arbitration over failed medical start-up

Elderly investors win $1.25 million Finra arbitration over failed medical start-up investments William Lashlee, and Keith and Joyce McCrea, elderly retirees, alleged in their claim that a Source ...
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FINRA Expels Lawson Financial, Bars CEO on Fraud Charges

FINRA Expels Lawson Financial, Bars CEO on Fraud Charges FINRA reports that it has expelled Phoenix-based Lawson Financial Corporation, Inc. (LFC), and has barred Robert Lawson, LFC's CEO and ...
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FINRA Seeks Comment on BD Blockchain Implementation

FINRA Seeks Comment on BD Blockchain Implementation FINRA issued a report examining the uses and implications of distributed ledger technology in the securities industry. The paper provides an ...
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Beware the Hedge-Fund Wipeout in Treasuries as Bearish Bets Soar

Beware the Hedge-Fund Wipeout in Treasuries as Bearish Bets Soar The "fast money," made up of hedge funds and other speculators, upped its bearish bets like never before this month, based on ...
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Lone Republican commissioner looks to head CFTC

Lone Republican commissioner looks to head CFTC The sole Republican commissioner at the main US derivatives regulator has thrown his hat in the ring to be appointed the next chairman, even as he ...
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Citigroup Hit with $25M Fine by CFTC For Spoofing, Supervisory Failures

Citigroup Hit with $25M Fine by CFTC For Spoofing, Supervisory Failures The CFTC issued an Order filing and settling charges against Citigroup for spoofing — bidding or offering with the intent ...
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Pershing Square Reaches Settlement with the SEC

Pershing Square Reaches Settlement with the SEC Pershing Square Capital Management announced a settlement with the SEC regarding a previously reported campaign contribution by a former employee made ...
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IRS raises red flag over tax shelter land deals

International Assets Advisory last year raised more than $3 million for one such tax shelter and was ready to raise more. But after the IRS recently issued a notice about the deals, called syndicated ...
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FINRA orders Baird to pay $23.5 million

Milwaukee-based Robert W. Baird & Co. Inc. has been ordered by the Financial Industry Regulatory Authority to pay $23.5 million to Wells Fargo Advisors LLC for “raiding” brokers from ...
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Estate Planning 101: Choosing Legal Guardians

As the holiday fog subsides and the hottest toys of 2016 are packed away and forgotten – it is important for parents to ask themselves whether they have gotten their children one of the most ...
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You Can Love Them Both Equally, While Delegating To Their Strengths

A few months ago during a family outing the discussion of personal representatives came up. Years ago, while I was still a student, my mother named my older sister as her power of attorney and health ...
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Proposed Rule Change, Monetary Award Shall Offset.

FINRA filed a proposed rule change with the SEC to amend Rule 12904 of the Code of Arbitration Procedure for Customer Disputes and Rule 13904 of the Code of Arbitration Procedure for Industry Disputes ...
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Court Lays Negligence Trap For Broker-Dealers

The U.S. Court of Appeals for the Eleventh Circuit ruled last month that firms may be held liable for negligence if they suspected or should have suspected an employee was likely to defraud others, ...
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