Italiano joins FTI Consulting from EY, where he managed complex investigations involving the SEC, the Financial Industry Regulatory Authority, the Department of Justice and other financial regulators across broker-dealer institutional sales and trading organizations, as well as the Wealth & Asset Management and Consumer Banking divisions.
Italiano collectively bring more than 45 years of experience advising broker-dealers and banks on significant regulatory and compliance issues, including regulatory reporting, high-frequency trading, alternative trading systems, best execution, equity and fixed income sales/trading, retail sales practices, lookbacks, remediations and Securities and Exchange Commission (SEC) Rule 15c3-5 Market Access, among others.
advisors and broker-dealers relief from the impending requirements under the Markets in Financial Instruments Directive, or MiFID II, which has been applied across the European Union since November 2007.
advisors and broker-dealers to continue current payment and aggregation practices for research and brokerage notwithstanding impending MiFID II requirements.
* broker-dealers to avoid advisor registration even when receiving research payments in hard dollars,
The 15-largest broker-dealer networks control 39.5 percent of advisor headcount.
And among those to be most severely hit are boutique broker-dealers.
Read Facing Off: The 2016 Broker-Dealers
of the Year on ThinkAdvisor.
the broker-dealer to pay millions of dollars to abused customers.
fines the broker-dealer for allowing the misconduct to occur.
The Cerulli report warns that life insurance broker-dealers face the greatest fiduciary risk among all BDs because of their higher use of commission-based compensation and proprietary products.
Though insurer's broker-dealers are at greatest risk, significant numbers of retirement advisors industry-wide will also have to adapt to the DOL's draft regulations.