The North American Securities Administrators Association (NASAA) is facing criticism from the Institute for Portfolio Alternatives (IPA) and the Financial Services Institute (FSI) regarding its proposed updates to the "Dishonest or Unethical Business Practices of Broker-Dealers and Agents”, commonly known as the "Business Practices Rule."
The North American Securities Administrators Association (NASAA) and its members have voted to adopt a model rule addressing financial advisory firms that fail to pay customer arbitration awards.
According to a recent study by state regulators, most brokerage firms continue to reflect conflicts of interest when recommending investments to retail clients despite revisions to Regulation Best Interest (Reg BI) more than a year ago.
The North American Securities Administrators Association (NASAA) has proposed new rules in an attempt to reduce the large number of arbitration awards that go unpaid to investors who prevail as claimants in arbitration proceedings.
Securities regulators are expecting a steep increase in the number of complaints related to margin accounts. Specifically, regulators expect to see a dramatic increase in complaints about the suitability of such accounts. Margin accounts are suitable for a scant few; for most investors, they are unsuitable. In any turbulent market, losses in those accounts, due to forced liquidations, for example, can cause great financial damage.
State securities regulators are warning that the current financial climate is likely to lead to a surge in investment scams related to coronavirus. The North American Securities Administrators Association (“NASAA”) warned that scammers will try to take advantage of the fear and uncertainty in the financial market resulting from the coronavirus pandemic.
This is the second in a series which highlights an InvestmentNews article concerning the recent uptick in the sale of unregistered securities and how those transactions have resulted in the proliferation of fraudulent schemes.
The North American Securities Administrators Association (NASAA) has developed a model rule outlining policies that investment advisers should have in place to respond to natural disasters or the death or incapacitation of an executive.
The North American Securities Administrators Association has developed a model rule outlining policies that investment advisers should have in place to respond to natural disasters or the death or incapacitation of an executive.
I want to extend a tremendous thank you for your dedication, professionalism, hard work and patient demeanor through this challenging time. It was enjoyable interacting with everyone on your team, this certainly helped while dealing with the situation and working towards resolution.
A recent analysis by Golsan Scruggs reveals a staggering 231 percent increase in errors-and-omissions (E&O) liability claims among registered investment advisor (RIA)
insurers.
According to a recent analysis, Reg BI-related actions quickly have ascended to the top five issues for FINRA, with fines totaling $6 million in 2023.
The Financial Industry Regulatory Authority (FINRA) has imposed fines and censured independent broker-dealers Osaic Wealth and Securities America for cybersecurity deficiencies that led to hackers accessing the private information of more than 32,000 customers.
