A dually-registered broker-dealer and investment adviser settled SEC charges for providing unsuitable recommendation on complex variable interest rate structured products to investors nearing retirement age.
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IOSCO examined members regulators' progress toward implementing suitability standards designed to prevent the mis-selling of complex financial products.
SEC Commissioner Kara Stein described the current exchange-traded product marketplace and discussed how regulators can best keep up with significant market developments.
A U.S. broker-dealer agreed to pay restitution to settle FINRA charges of making unsuitable recommendations in connection with volatility-linked exchange-traded products. FINRA reminded firms of sales practice obligations for such products.
Morgan Stanley Smith Barney, LLC agreed to pay an $8 million penalty to settle SEC charges alleging that the firm, which was dually registered as an investment advisor and broker-dealer, had failed to implement written compliance policies and procedures.