Wealth Management industry news covering the financial markets, trends and wealth professionals.
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A bank-based broker takes Citizens Bank to arbitration for failing to meet some lofty recruitment promises, and wins $1.5 million. Now others are making similar claims against the bank.
Goldco releases a Bitcoin IRA, Ernest Romer III is accused of defrauding clients, and SIFMA redesigns its website to avoid "bottomless silos of information."
Steven Peiken, the new co-head of enforcment, held as much as $9 million worth of stock and William Hinman, the SEC's director of corporate finance, represented big banks and technology companies.
Girard is the latest firm to deregister its broker/dealer and join a larger firm as an OSJ, shedding regulatory and operational burdens. The DOL rule was the tipping point. "I don't know how in the world we could have done it as a small firm."