Advisorland Legal & Compliance

Blotter: April 2012

Sun, 01 Apr 2012 12:00:00 EDT

Repeat Offender Brian Raymond Callahan was a repeat offender, as is so often the case with white collar crime. In 2009, the Financial Regulatory Industry Authority barred him from associating with any FINRA member, so he went the investment adviser route instead. In early March, the Securities and Exchange Commission charged Callahan with defrauding at least two dozen investors of more than $74 million.

The Long Goodbye

Wed, 14 Mar 2012 12:00:00 EDT

I'm leaving you. I'm leaving you for someone else. It's over. It's been great, really. You've given me so much space, so much freedom. Most people don't understand our relationshipI don't want this to end. But I don't have a choice. It's bigger than the both of us. It's the law. So I'm leaving you, SEC. I'm moving in with my state regulator. (Actually, it feels more like she's moving in with me.)

Blotter: March 2012

Thu, 01 Mar 2012 12:00:00 EDT

Fool Me Twice Robert Pinkas was not deterred the first time, SEC charges suggest. The regulator says Pinkas stole $173,000 from a fund client to cover the costs of defending himself in a separate investigation. Pinkas then lied to the client about the funds he lifted, according to the SEC, saying that a number of law firms had looked into the transfers and decided they were perfectly legal. Pinkas

Are Regulations Killing the Hybrid Financial Advisor?

Tue, 07 Feb 2012 16:01:00 EDT

Postcard from Orlando: RIA Model a Major Challenge For IBDs

Tue, 24 Jan 2012 15:37:00 EDT