Martin Wheatley, head of the UK’s new consumer protection watchdog, has major concerns about the current quality of bank advice. He believes that investors cannot be counted on to make rational choices, and that regulators need to step up in order to protect them.
Sometimes it’s hard to tell what tarnishes the financial services industry more: the occasional criminal act by a broker, or the soft touch of regulators. A case from the U.S. illustrates this dual-responsibility.
Merrill Lynch was handed a victory by a U.S. arbitration panel after expert witnesses testified the portfolio in question was diversified.
An arbitration panel convened by U.S. self regulator FINRA opted to strike from the record a complaint against a UBS trader who was alleged to have ignored client instructions, resulting in economic loss.
Strong support from distributors and carriers is helping the eData initiative make giant strides towards its realization. The eData initiative is a cooperative effort between CLIEDIS member carriers, distributors and system and software providers to develop a process for e-transactions and straight-through processing, starting with new business. Scott Sinclair, COO, Transamerica and co-chair of the […]