{"id":4460,"date":"2007-06-21T12:13:03","date_gmt":"2007-06-21T12:13:03","guid":{"rendered":"https:\/\/www.stockbrokerfraudblog.com\/2007\/06\/wall_street_wars_when_investme"},"modified":"2021-09-20T15:41:33","modified_gmt":"2021-09-20T20:41:33","slug":"wall-street-wars-when-investme","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/wall-street-wars-when-investme\/","title":{"rendered":"Wall Street Wars: When Investment Advisors Sued the SEC and Won Did They ‘Tug on Superman’s Cape?’"},"content":{"rendered":"

\t\t\t\tAs discussed in earlier stories on this blog, the SEC was challanged by an investment advisors association in court for exempting Wall Street brokerage firms from liability under laws governing investment advisors, despite the fact that the brokerage firms were performing identical services.<\/p>\n

The investment advisors won their suit a few months ago, ending the “Merrill Rule”, which had strangely been championed by the SEC, a 75 year old govenment agency created to protect investors. The SEC Chairman then personally, and not on behalf of the SEC, asked Congress to end “soft dollar” arrangements for investment advisors which he said were being abused.<\/p>\n

It its latest ComplianceAlert letter to chief compliance officers of registered firms, the SEC has highlighted numerous areas of noncompliance, including performance advertising deficiencies “discovered” during a SEC review of several registered investment advisers.<\/p>\n

Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

As discussed in earlier stories on this blog, the SEC was challanged by an investment advisors association in court for exempting Wall Street brokerage firms from liability under laws governing investment advisors, despite the fact that the brokerage firms were performing identical services. The investment advisors won their suit a few months ago, ending the […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3825,3801],"tags":[],"class_list":["post-4460","post","type-post","status-publish","format-standard","hentry","category-financial-advisers","category-sec"],"yoast_head":"\nWall Street Wars: When Investment Advisors Sued the SEC and Won Did They 'Tug on Superman's Cape?' — Investor Lawyers Blog — June 21, 2007<\/title>\n<meta name=\"description\" content=\"As discussed in earlier stories on this blog, the SEC was challanged by an investment advisors association in court for exempting Wall Street brokerage — June 21, 2007\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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