A Pittsburgh-based brokerage firm has reached a settlement with the Financial Industry Regulatory Authority over allegations of unfair pricing in corporate and municipal bond transactions, according to AdvisorHub. The case involves NewEdge Securities, the brokerage...
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FINRA regulatory report advises member firms on 2024 compliance challenges
The Financial Industry Regulatory Authority issued a report to provide guidance to member firms on various compliance matters they may be dealing with this year, WealthManagement reports. In its 2024 Annual Regulatory Oversight Report, FINRA gives firms insights and...
Bank of America, Wells Fargo offering access to bitcoin ETFs
Two major banks have begun offering spot bitcoin exchange-traded funds to their eligible wealth management clients, according to AdvisorHub. Bank of America Corp.’s Merrill arm and Wells Fargo & Co.’s brokerage unit are providing the ETFs, which invest directly in...
Firms concerned that proposed DOL fiduciary rule will impact annuity sales
Some of the industry's largest independent broker-dealers have expressed concern that the Department of Labor's proposed fiduciary rule could have a detrimental effect on the annuity market, reports AdvisorHub. The proposal is called the Retirement Security Rule:...
Advisors weighing approach to bitcoin ETFs following SEC approval
Financial advisors are assessing their strategies regarding bitcoin exchange traded funds now that they have been approved by the Securities and Exchange Commission, InvestmentNews reports. Last week, the SEC voted to approve nearly a dozen new bitcoin ETFs, allowing...