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FINRA Elevates Focus on the Failure to Conduct Proper Due Diligence on Private Placements

December 20, 2018

On December 7, 2018, the Financial Industry Regulatory Authority (“FINRA”) issued a comprehensive report (“Report on FINRA Examination Findings”) which “focuses on selected observations from recent examinations that FINRA considers worth highlighting because of their potential significance, frequency, and impact on investors and the markets.” Among the issues discussed in this report were significant concerns […]

BBB Corporate Bonds – How Many Are Close to Default?

December 19, 2018

In 2008, in the aftermath of the financial crisis, the Federal Reserve began its “quantitative easing” program, a determined effort to lift the economy by lowering the cost of borrowing. It bought up trillions of dollars in Treasury and other debt securities, effectively reducing long-term interest rates. Debt issuance exploded. In the last decade, the amount of corporate […]

S&P 500 Drops To New 2018 Low, DJIA Closes Down 500 Points

December 18, 2018

Stocks tanked on Monday, pushing the S&P 500 to a new low for the year amid growing concerns that the Federal Reserve’s plan to raise interest rates could be too much for the economy and stock market to handle. The Dow and S&P 500, which are both in corrections, are on track for their worst […]

Concentrated Position Risk Drawing Regulatory Scrutiny

December 17, 2018

LPL Financial settles with Indiana over failure to supervise allegations

December 14, 2018

Indiana Secretary of State Connie Lawson today announced she has agreed to a settlement with LPL Financial which includes a civil penalty of $450,000. The settlement stems from an investigation by the Securities Division of the Secretary of State’s office regarding various deficiencies related to LPL’s supervision of its Indiana operations. The settlement specifically focuses […]