Improper Soft Dollar Payments
December 1, 2009 by MoneyElement · Leave a Comment
FINRA has fined Terra Nova Financial $400,000 for making over $1Million in improper soft dollar payments to five hedge fund managers. The charges were also due to poor supervision and failing to retain its business-related electronic instant messages.
“Broker-dealers that collect soft dollars and make payments for their hedge fund clients must possess and implement adequate [...]
RIA Assets Shrinking
November 10, 2009 by MoneyElement · Leave a Comment
The annual reports of IAA and NRS revealed that the total number of SEC RIAs has grown 2% to 11,257 however the their assets under management shrunk 20% after reaching over $42 trillion back last year. We see growth in the amount of smaller firms in the RIA world however they are now looking at [...]
