Richard E. Austin

Rich clients may not be smart

Just because an investor can throw $150,000 at an investment doesn’t mean they’re sophisticated and don’t need to look at a prospectus.

By Richard E. Austin |June 5, 2012

3 min read

Industry

Two ways to reduce compliance costs

Find out what parts of your practice are unprofitable by using full-cost accounting—that means including compliance costs, which are often overlooked.

By Richard E. Austin |January 19, 2012

2 min read

Planning and Advice

Eight rules for changing dealers

You’ve had it with Your dealer. It’s time to move to one with better service, faster trade clearing, and improved market access. But how will it impact your clients? Here are eight things to consider:

By Richard E. Austin |October 1, 2011

2 min read

Industry

When to blow the whistle

Swiss banker Bradley Birkenfeld joined UBS in 2001. Four years later, Birkenfeld realized that UBS’s practice of storing money for American clients in Swiss bank accounts was illegal. Birkenfeld voiced his concern to his supervisors and UBS’s compliance and legal departments. Since he didn’t receive a response, in 2007 Birkenfeld left UBS and complained to the IRS and SEC, triggering a multibillion-dollar international tax-fraud scandal.

By Richard E. Austin |September 20, 2011

3 min read

Industry

When to blow the whistle

What the regulators say about disclosing illegal activities.

By Richard E. Austin |September 1, 2011

3 min read

Planning and Advice

Electronic communication law and you

Electronic communication has been around for awhile, but Canada recently became the last of the G8 countries to introduce laws to curb spam and spyware when Parliament passed the Fighting Internet and Wireless Spam Act (FISA) last December.

By Richard E. Austin |July 15, 2011

3 min read

Market Insights

Feds act to legitimize covered bonds

More financial institutions are interested in covered bonds, thanks to increasing regulatory capital requirements, the need to re-establish acceptable capital levels in the short term and declining interest in securitized loans.

By Richard E. Austin |June 1, 2011

3 min read

Planning and Advice

Right to incorporate reaching boiling point

For over a decade, registered salespeople have sought the right to incorporate. Many other professionals most notably those selling insurance—have been able to do so for quite some time. Though not legally able to incorporate, many salespeople assign commissions earned on the sale of securities to unregistered corporations.

By Richard E. Austin |May 10, 2011

2 min read

Industry