Regulatory

With So Little Action On Dodd-Frank Over The Past Two Years, Many Are Dubbing It Dud-Frank

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The Dodd-Frank Act was supposed to be the cure-all for regulatory malfeasance. Instead, its ineffectiveness and the slow and painful process has only resulted in 123 of the 398 rule making requirements coming into being. Of the SEC’s 95 mandatory regulations, only 28 have been finalized.

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Dodd-Frank Mandates Registering Municipal Advisors But Congressional Committee Says SEC's Proposed Rule Is Over The Top

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A Congressional hearing on Friday, both Republicans and Democrats said that legislation the SEC is seeking that would require municipal advisors to register crosses into over regulation. The legislation was mandated by Dodd-Frank and was proposed by the SEC in December 2010.

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Letters From Failed Suicide Attempt Of PFGBest CEO Reveal Lack Of Regulatory Oversight As Well As How Embezzled Funds Were Used

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Concern for lack of oversight by regulatory authorities is emerging from the embezzlement case of Peregrine Financial Group Inc. (PFG). Letters left by Peregrine’s CEO Russ Wasserman were uncovered during a failed suicide attempt last week when regulators along with the FBI discovered during the ensuing investigation that $215 million of client funds were missing.

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New Privacy Laws Being Passed By A String Of States May Conflict With FINRA Social Media Rules

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Recent legislation passed by the state of Maryland that prohibits prospective employers from requiring the usernames and passwords of potential employees may set up privacy tenets that run against FINRA’s social media rules.

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Advisors React to FINRA’s New Suitability Rule; Problems Likely For Dually Registered Advisors

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It’s official. FINRA Rule 2111, which was approved by the Securities and Exchange Commission (SEC) in November 2010, and went into effect this week, July 9, 2012 to be precise, is now the law, or should we say, the rule of the broker-dealer land.

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