The practice of rolling assets from multiple clients or other traders into a single custody account has the SEC nervous enough to launch an entire new series of official warnings.
A California advisory firm has received a cease and desist order following an SEC investigation into its efforts to inflate its self-reported AUM and look bigger to prospects.
From an investor's perspective, Morgan Stanley has just had to confess that the ultimate nightmare has come true: the firm has lost CD-ROMs containing personal information on 34,000 clients.
As of now, anyone can search FINRA's disciplinary records online instead of going to the trouble of asking the regulator to send paper copies of any enforcement actions.
Despite reports that advisors are balking at the idea of showing prospective clients their disciplinary records, the fact remains that if you have nothing to hide, this becomes a competitive advantage, not a burden.
Regulatory compliance and advertising review services.
You'll be emailed a discount coupon for $30 off the CFP® Ethics Class after signing up for A4A's $60 quarterly membership, featuring Fritz Meyer, Bob Keebler, and Craig Israelsen.