Over the past several years, there has be an increasing number of registered investment advisors and financial advisors using omnibus accounts. In short, an omnibus account allows an advisor to trade the same securities on behalf of multiple clients, while typically identifying in advance which trades are intended for which…
Deutsche Bank has agreed to pay a fine of $55 million to settle charges by the SEC that it filed misstated financial reports during the height of the global financial crisis relating to a multibillion dollar portfolio of derivatives. The SEC’s multi-year investigation culminated in an Order Instituting a Settled…
What are non-traditional exchange-traded funds (ETFs) and non-traded real estate investment trusts (REITs)? Why are independent broker dealers selling these complex products without proper supervision? FINRA wants to know and just slammed LPL Financial for doing such a thing. This week, FINRA censured and fined LPL $10 million for broad…