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Registered Rep. April 28, 2005 John Churchill	NASD Sends Older Reps Back to the Classroom All registered reps are required to complete the regulatory sections of the NASD's continuing education curriculum. According to the Securities Industry/Regulatory Council on Continuing Education, there are currently 109,000 exempted reps that will now have to take the test.
Registered Rep. April 1, 2005 Bill Singer	Two-Tiered Justice? A recent SEC report shows that the NASD is far less enthusiastic about policing itself --- despite the fact that such self-regulation is part of its charter.
Financial Planning November 1, 2006 Marianne Czernin	Compliance Tips Registered reps have lots of eyes watching them. Supervisors, compliance personnel, sales directors, and operations all scrutinize reps' activities. But these aren't the only people interested in reps' movements.
Registered Rep. June 1, 2005 Karen Donovan	No More Slap on the Wrist Regulators are getting tough and creative on registered reps because they suspect that fines aren't a strong enough deterrent to stop illegal behavior.
Financial Planning September 1, 2006 Marianne Czernin	Compliance Tips Your Ongoing Commitment to the NASD: It's important to know that as a registered rep currently employed by a broker-dealer, your obligations to the NASD do not cease should you quit and decide to become a carpenter, congressman or pirate.
Financial Advisor June 2004 Tracey Longo	Compliance Overload A white-hot regulatory agenda is bedeviling independent broker-dealers in the U.S.
Registered Rep. August 1, 2005 John Churchill	Brokers Called Up for Active Duty Face Licensing Headaches, Book-Poaching Colleagues For registered rep reservists serving in one of the nation's armed forces, coming home and returning to the job is soon to get a lot easier. Of course, the NASD says there is nothing it can do to prevent colleagues from stealing a GI advisor's book.
Registered Rep. January 1, 2003 Bill Singer	Who Regulates the Regulators? In the securities industry, brokers are expected to follow the rules. If you don't, you will be held accountable by the NASD. But what do you do if the NASD doesn't follow the law?
Registered Rep. January 1, 2005 David A. Gaffen	Third Time Is a Harm A NASD proposal first announced in 2003 requires that reps with three or more formal complaints against them receive extra supervision from their firms. Most major broker/dealers are already operating as if the rule were in place.
Registered Rep. July 1, 2005 Christopher O' Leary	The Fund Family That Said No While in the past few years many funds sued by regulators have been quick to settle, American, the second-largest fund family in the U.S. with $650 billion in assets is fighting back.
Registered Rep. November 1, 2005	Supplemental Inquiry Q: Is there any way my employer can find out if I receive W-2 income from other sources... Q: Recently at a social event, a co-worker's client told me another local broker (who is a competitor) had made some disparaging remarks about my co-worker... etc.
Registered Rep. January 1, 2003 Ross Tucker	Let's See Those Credentials For the thousands of reps who have found themselves unemployed since industry employment peaked in 2000, the matter of retaining one's license to sell securities is a potential issue.
Registered Rep. July 1, 2005 Bill Singer	An Industry in Need of Counseling The relationship between regulators and the brokerage industry lately resembles that of a long-term union that's hit the rocks, and the pair could benefit from opening up a little more to each other.
Registered Rep. June 1, 2005	The Cost of Compliance Q: My current firm recently hired a non-licensed wholesaler to begin marketing our mutual fund family. What liability do I have, given that the wholesaler is not licensed?
Registered Rep. September 1, 2005 Karen Donovan	Under Siege Executives of broker/dealer firms are not exaggerating when they say it seems like regulators are locked into a competitive battle to collect the most pelts on Wall Street.
Registered Rep. August 17, 2005 Kevin Burke	NASD Tightens Noose on Hedge Fund Sales Practices A top National Association of Security Dealers official said on Wednesday that the regulatory agency has launched an investigation into brokers selling hedge funds to individual investors without alerting them to the potential risks.
Registered Rep. November 4, 2004 David A. Gaffen	Serenity Reigns in Boca Raton Perhaps it was the recent victory of President Bush that heartened this business friendly crowd, or the tranquil Boca Raton setting, but the annual Securities Industry Association conference exudes an oddly serene tone.
Registered Rep. September 1, 2005	Expunge Bath I received customer letters, written after a nasty falling-out, that my firm said would appear on my internal U4, but not my public statement. Am I forever marked up, or can I get the letters off my record?...
Registered Rep. February 11, 2004 John Churchill	Dueling Trend Lines on Complaints Brokers have become more attuned to investor complaints in recent years, but they must be forgiven if they're having a hard time drawing conclusions from the trend numbers reported by regulators.
Registered Rep. February 1, 2005	Blotter Banc One Is No. 1 -- in Fine Size... Fleecing the Flock... Morgan Gets a Slap...
Registered Rep. July 1, 2004 David A. Gaffen	The Great Compliance Witch Hunt! Many clean brokers jump firms, only to discover their old broker/dealer besmirched their U4s. In a business where client realtionships are at stake, things can get ugly very quickly.
Registered Rep. April 29, 2005 Kristen French	Raymond James Fined, Drops Fee-Based Brokerage---Will Others Follow? Following the NASD fine of Raymond James for pushing fee-based accounts on the wrong clients, the next question is how the settlement will affect other firms that offer the same accounts, including wirehouse giants Morgan Stanley, Merrill and Smith Barney.
Financial Advisor April 2004 Tracey Longo	Wanted: Real Disclosure Rules on brokers compensation disclosure are changing---but slowly.
Registered Rep. July 1, 2004 Bill Singer	When Silence Isn't Golden Reps may not inhibit customers or other parties from providing information, documents or testimony or from cooperating otherwise with a regulator in an investigation of alleged violations, even after a settlement.
Registered Rep. September 1, 2005 Karen Jones	Regulate Thyself (Better) Further complicating the debate over the self-regulatory organization (SRO) structure are the NYSE's planned demutalization and merger with Archipelago Holdings and Nasdaq's planned merger with Instinet Group. How will these moves affect their role as policemen of brokers?
Registered Rep. April 26, 2005 Kristen French	A Pawn Takes the Queen Charles Elliott scores one for the "little guy," and proves that sometimes it pays for a broker to take on securities regulators, despite their financial and legal heft.
Registered Rep. January 12, 2006 John Churchill	Schapiro in for Glauber at NASD 2007 The NASD Board of Governors announced today that Mary Schapiro, currently the self-regulator's head of Regulatory Policy and Oversight, will become the NASD's chairwoman when the term of its current chief ends in December 2006.
Registered Rep. March 30, 2005 John Churchill	House Urges SEC to Adopt Broker-Dealer Exemption Rule At issue, at least as far as financial planners are concerned, is that registered reps are presenting themselves as fiduciaries, when in fact they are brokers with a less-than-fiduciary responsibility to their clients.
Financial Planning June 1, 2005 Juliette Fairley	FP50: Angst Over Compliance As financial advisory firms struggle to manage a raft of new regulations, they are banding together to rein in the rule-makers.
Registered Rep. September 3, 2003 David Gaffen	NASD: Brokers With Complaints Need A Watchful Eye Heed the red flags. This is the thrust of a new NASD proposal that would require brokerage houses to devote extra supervision to reps with extensive numbers of complaints or regulatory actions against them.
Registered Rep. May 1, 2004 Will Leitch	Out, Damn Spots Already, stockbrokers have located a loophole in a NASD instituted a rule meant to prevent stockbrokers from, in effect, buying their way out of client complaints.
CFO February 1, 2005 Ronald Fink	Finders Keepers The SEC is hearing new demands to make it easier for small companies to raise capital.
The Motley Fool May 20, 2004 Tim Beyers	American Express Unit in Scandal The broker could be a target of a regulatory inquiry into mutual funds revenue-sharing. How can you tell if your own broker or advisor has a conflict of interest?
Registered Rep. May 1, 2005	Blotter Not-So-Hot IPO: The NASD fined Thomas Weisel Partners for levying exorbitant commission charges on "hot" IPO shares... Expelled, Reinstated, Expelled: Brokerage firm LH Ross was officially expelled from the securities industry and fined... etc.
Financial Advisor January 2004 Jay Gould	Washed Up On The Banks Of Denial The SEC has changed its policies regarding anti-fraud consent injunctions. How should investment advisors react?
Registered Rep. November 1, 2005 Christopher O'Leary	A Crusade Against Indies? Regardless of whether going independent means a more regulatory scrutiny or not, advisors thinking of going out on their own need to understand just how much work such a move will entail in terms of keeping up with the ever-changing world of regulations.
Registered Rep. June 1, 2004 Bill Singer	The Downside to the Rube Defense Time was, the perfect stockbroker was equal parts salesman and stockpicker, but these days you have to throw a good measure of lawyering into the mix. Anthony Barkate's problems came from relying on bad legal advice about whether an instrument was technically a "security."
Registered Rep. January 1, 2005 David A. Geracioti	A Whole New Ball Game Financial advisors who grew accustomed to the little, and sometimes not so little, treats that mutual fund wholesalers lavish on them may have noticed a certain lack of swag lately.
Registered Rep. February 1, 2006 John Churchill	Schapiro in, Glauber Out at NASD in 2007 Mary Schapiro, head of NASD Regulatory Policy and Oversight, will be taking over for Robert Glauber as chairman of the NASD at the end of the year. One tough cop replaces another.
Registered Rep. April 8, 2003 Will Leitch	SIA Calls NASD Proposal Unfair The Securities Industry Association has weighed in negatively on the NASD's proposed changes to the handling of central registration depository (CRD) complaints.
Wall Street & Technology January 6, 2006 Ivy Schmerken	Everything's Coming Up Hybrid Will a joint NYSE - NASD regulator result in the $100 million-a-year savings that the NASD is proposing in the hybrid regulation of dual member firms?
Registered Rep. April 8, 2005 John Churchill	`Merrill Rule' Debate Not Over The SEC unanimously voted to allow Series 7 holders, or registered reps, to position themselves as financial advisors -- with certain caveats. But once again the SEC seemed to hedge its bet. So the debate rages on.
Financial Planning July 1, 2005 James A. Barnash	Why We're Suing The FPA president explains the lawsuit over the SEC's broker-dealer rule that exempted certain broker-dealers from disclosure standards that apply to investment advisers and most financial planners.
Registered Rep. December 14, 2005 David A. Geracioti	NYSE Regulators to Member Firms and Reps: We Are Watching You Broker/dealers had a very strong 2005. But so too did the regulators.
Registered Rep. August 1, 2004 Bill Singer	Dealing With Complainers Many official complaints can be handled in a way that minimizes the damage to a rep's reputation and to his permanent record.
Registered Rep. February 1, 2003 Will Leitch	NASD Investigates Potential Breakpoint Violations The confusing slew of regulations that have followed on the heels of the Sarbanes-Oxley Act has tapped a strange feeling in brokers: the fear of violating securities rules unwittingly. A recent investigation by the NASD shows their worries are not unfounded.
Registered Rep. December 15, 2005 John Churchill	Court to NASD: You Don't Have a Leg to Stand On For the first time in its 68 years as a self-regulatory organization, the National Association of Securities Dealers sued the Securities and Exchange Commission over a right it was never granted. Guess what? It lost.
Registered Rep. January 1, 2005 Jennifer Woods Burke	Not in My Name Under limited circumstances, NASD Rule 2130 allows registered representatives to erase histories of disputes with customers from the CRD system.
Registered Rep. October 1, 2005 John Churchill	Growth at a Price While nobody is accusing GunnAllen of running a crooked business, the firm's growth strategy has translated to a reputation for hiring a relatively high proportion of reps with heavily marked up U4s, including some who have received criminal complaints.
The Motley Fool August 2, 2004 Selena Maranjian	Buying Your Brokerage? There are good and bad ways to invest in securities firms. Look for these red flags before investing in a broker-dealer offering (BDO.)