Added on November 2014 in Form an RIA
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Summary: The Financial Industry Regulatory Authority is moving ahead with its controversial plan to collect broker-dealer account data through its Comprehensive Automated Risk Data System (CARDS) program as FINRA is “getting to problems where investors are severely harmed too late,” and is "testing" the impact of its broker recruitment compensation plan, Richard Ketchum, the self-regulator’s CEO, said Monday.
Added on November 2014 in Form an RIA
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Summary: SEC Chair Mary Jo White believes that the fiduciary standard rule in the works at the regulator is "enormously important." Yet she declined to specify her position on the rule or exactly when it might arrive, noting the complexity of the issue.
Added on November 2014 in Form an RIA
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Summary: Finra has a way to go to convince the brokerage industry that a massive brokerage-account-information collection system will be good for the financial markets. At the Securities Industry and Financial Markets Association annual conference in New York on Monday, the organization's leader said that it opposes the proposal, known as the Comprehensive Automated Risk Data System.
Added on October 2014 in Form an RIA
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Summary: A tool recently introduced by the online professional network LinkedIn could help investment advisers and brokers with both marketing and compliance. LinkedIn has made it possible for users to download an archive of their data with one click. Information that is exported includes a list of first-degree connections, endorsements, comments made in LinkedIn groups and other content that has been posted in the system.
Added on October 2014 in Form an RIA
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Summary: Nearly five years after Dodd-Frank became law, a uniform fiduciary standard for advisors in all channels is nowhere in sight. But the lack of progress hasn’t deterred the Financial Planning Coalition from agitating for more accountability in the industry.
