Compliance Watch

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  FINRA’s Top 5 Enforcement Issues of 2011

  By Melanie Waddell, AdvisorOne  |  March 12, 2012

  A survey of FINRA sanctions by Sutherland Asbill focuses on the top enforcement issues in 2011, showing that fines jumped 51% over 2010, with more reps barred.

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  SEC, Congress Tussle Over Private Fund Advisor Registration

  By Melanie Waddell, AdvisorOne  |  March 9, 2012

  SEC Commissioner Daniel Gallagher told chief compliance officers on Thursday that he sees cases where the securities regulator can grant exemptive relief for private fund advisors that must register with the agency as mandated by Dodd-Frank.

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  FINRA to Restructure BrokerCheck, Giving Investors More Power

  By Melanie Waddell, AdvisorOne  |  March 2, 2012

  Proposed changes include not only unifying BrokerCheck and the SEC’s IAPD system, but also divulging broker/advisor test scores.

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  5 Regulatory Red Flags for Advisors Who Use Commodity ETFs

  By John Sullivan, AdvisorOne  |  February 16, 2012

  A legal alert from the law firm Sutherland Asbill & Brennan lists the top issues that Gary Gensler's CFTC and the entire commodity ETF industry will need to address this year.

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  Securities Regulators Find Enforcement Actions by States Surged 51% in 2010

  By Melanie Waddell, AdvisorOne  |  October 21, 2011

  NASAA released findings of a report on Oct.19 that found a 51% increase in the number of enforcement actions by state securities regulators in 2010

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  Key to 408(b)(2) Compliance: Support, Solid Procedures

  By Danielle Andrus, AdvisorOne  |  October 17, 2011

  The regulatory reform advisors are facing is “nothing less than stunning,” Amy Glynn, president of Pension Resource Institute told attendees at the Center for Due Diligence’s 2011 conference.

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  Securities Class Action Complaints Fall in First Half of Year

  By Marlene Y. Satter, AdvisorOne  |  August 4, 2011

  Federal securities class action complaints were down in the first half of 2011, according to "Securities Class Action Filings—2011 Mid-Year Assessment." Although overall activity was down, filings on Chinese reverse mergers and M&A activity rose over the last six months of 2010.

• FINRA Charged With Poor Transparency, Needs Closer Scrutiny—Compliance Watch

  By Melanie Waddell, AdvisorOne  |  July 22, 2011

  The non-governmental regulator lacks the 'checks and balances' of other government regulators, U.S. Chamber of Commerce charges.

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  Confusion About New FINRA Rule Requiring Back-Office Staff Exams—Compliance Watch

  By Melanie Waddell, AdvisorOne  |  July 15, 2011

  Two areas of uncertainty remain for BDs regarding FINRA's new rule requiring operations personnel to take a FINRA exam: which personnel must take the exam and which exam they will take.

• From FINRA Case, a Cautionary Tale on Immediate Annuities—Compliance Watch

  By Elizabeth D. Festa  |  July 1, 2011

  A FINRA arbitration panel recently decided in favor of a broker against his former BD in a dispute over a U4 involving an examination over advertisements for a fixed annuity product.