Tag: Suitability
SEC charges broker-dealer with Reg-BI violations
North America | Regulations & Legal
20 Sep 2024 by SRP News
The US regulator found that the advisor's structured note recommendations violated Reg BI’s compliance obligation
US advisor to pay over US$1.5m for unsuitable sales involving ETNs
North America | Regulations & Legal
18 Sep 2024 by SRP News
The US regulator has charged the RIA and its owner for investing clients’ funds in unsuitable equity-linked structured notes
HK regulators slam due diligence flaws in structured product sales
Asia Pacific | Regulations & Legal
22 Apr 2024 by Jocelyn Yang
A thematic review carried out by the regulators highlights shortcomings and risk factors in due diligence assessment methodologies for non-exchange traded investment products.
Japan watchdog seeks penalty for structured bond mis-selling
Asia Pacific | Regulations & Legal
12 Jun 2023 by Summer Wang
A Japanese government body is urging regulators to punish Chibagin Securities for its alleged mis-selling of structured bonds involving two regional banks.
EU associations sound alarm on new EU retail investment rules
Europe | Regulations & Legal
07 Jun 2023 by SRP News
European finance trade associations have voiced ‘multiple concerns’ as many of the measures in the European Commission’s (EC) proposals will have far-reaching consequences.
Asic calls issuers to improve design, distribution obligations
Asia Pacific | Regulations & Legal
17 May 2023 by SRP News
The Australian Securities and Investments Commission (Asic) is urging investment product issuers to ‘lift their game’ after an initial review found significant room for improvement in how they meet their design and distribution obligations (DDO).
Looking back: a ban that changed almost nothing
Europe | Regulations & Legal
29 Sep 2022 by Sybil Yorke
The introduction of a commission ban in the Netherlands almost a decade ago took away ‘perverse incentives’ for intermediaries but the real change came with transparency, disclosure and standardisation.
US congress questions Finra’s ‘complex product’ regulation
North America | Regulations & Legal
29 Sep 2022 by SRP News
The regulator must provide evidence that current regulations are insufficient; the impact proposed changes would have on retail investors; and whether it is coordinating its effort with the SEC, which has also raised concerns about the retail sale of complex investment products.
US regulator fines broker dealer for fraudulent structured product sales
North America | Regulations & Legal
03 Aug 2022 by SRP News
The US Securities and Exchange Commission (SEC) has fined New York-based Aegis Capital Corp. US$2.3 million for failing to prevent 14 of its brokers from fraudulently selling unsuitable structured products to investors that included retired elderly clients who lost up to hundreds of thousands.
