Patrick Donachie

According to the commission, Westchester, N.Y.-based advisor Evarist C. Amah misled clients about how their $700,000 in investments fared.

Some observers argue the CFP Board’s proposed changes go too far and that its resources could be better used elsewhere—others say the revisions don’t go far enough.

George Heckler is also facing litigation from the SEC in connection with an alleged scheme that lasted a decade and defrauded investors of millions.

Former New Jersey State Attorney General Gurbir S. Grewal proposed a uniform fiduciary standard for that state, indicating a possible 'expansive' interpretation of Reg BI in his new role.

The settled charges against 21 investment advisory firms and six broker/dealers asserted that none had filed or posted their forms until receiving numerous reminders from regulators.

At a SIFMA forum, FINRA Chief Legal Officer Bob Colby said the agency would consider new guidance and rules after this year's market volatility.

FINRA President Robert Cook reiterated the need for exams to remain remote into 2022, and said the rule may need to take a more risk-based approach going forward, he said, at SIFMA's Compliance & Legal Forum.

SIFMA’s Compliance and Legal Forum speakers said there were pathways for professional development that don't occur in the remote restrictions of a Zoom meeting.