Some Parts Of The Chinese Stock Market Look Worse Than Others

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That Crazy Spike In Chinese A-Shares Might Not Last For Long (Charles Schwab) 

Chinese A-shares have surged over the past few weeks. Charles Schwab analysts are attributing this to the fact that local Chinese investors have returned, and that foreign investors have been buying A-Share ETFs in the US market.

"We remain positive on Chinese equities but are cautious about A-shares in the near term due to the rapid gains in prices recently. Chinese equities could benefit from further stimulus and still have relatively low valuations. We believe investments tied to mainland Chinese shares that trade in Hong Kong, such as those tied to the MSCI China Index, could outperform in the near term, as investors arbitrage away the premium A-shares currently at relative to H-shares," writes Michelle Gibley.

Ex-CEO Is Getting Sued For Using Corporate Card To Buy A Yacht And Other Luxury Items (Thinks Advisor)

"Sterne Agee, a Birmingham, Alabama-based broker-dealer is suing ex-CEO James Holbrook for using company assets for personal use," reports Janet Levaux.

According to the lawsuit, James Holbrook used a corporate credit card to buy himself fishing boats, a yacht, a vacation condo, and ownership in a luxury ski chalet. Allegedly, he also used company assets to join a marina and golf club in Florida.

Sallie Krawcheck Downplayed The Threat Of RIAs At An Independent Adviser Summit (Investment News) 

Sallie Krawcheck, the former head of the brokerage units at Citigroup, spoke at a summit for independent advisers, and downplayed the migration from wirehouses to RIAs. Although there are reports that everyone's fleeing the big firms in favor of RIAs, Krawcheck said the actual numbers are way lower.

"Only 37 advisers left to go independent in the year after Ms. Krawcheck took control of Bank of America Merrill Lynch's broker unit in 2009. Meanwhile, the firm brought in 26 advisers from the independent space, she said," reports Mason Braswell.

"The truth is that" - Krawcheck told the independent advisers at the summit - "just as so many of your clients love you, the clients of wirehouse advisers love them."

A Fraud, A Cover-Up, And A Failed $300 Million Plan Could Jeopardize The Social Security Chief's Nomination (Financial Advisor Magazine) 

"Fraud and cover-up allegations about a failed $300 million effort to develop a disability case management system for the Social Security Administration has put the nomination of Acting SSA Commissioner Carolyn Colvin to become its permanent chief in jeopardy," reports Ted Knutson.

The incoming Senate Finance Committee chairman isn't supporting Colvin any longer, and it's unlikely that the Senate would vote for her without him.

Colvin has denied responsibility in the $300 million mismanagement.

Former Financial Adviser To Young NFL Players Ordered By SEC To Pay $1.7 Million (The Wall Street Journal)

Billy Crafton, a former financial adviser who specializes in working with professional athletes, was ordered by the SEC to pay $1.7 million to settle fraud and misrepresentation charges.

He worked with young football players who were just starting out.

"From 2006 through 2011, Mr. Crafton received at least $1.5 million in commissions and alleged kickbacks for steering client money into certain investments, according to an SEC complaint filed with the settlement," reports Matthias Rieker.