SEC says California-based Robert Joseph Armijo personally made over $1 million in commissions by selling unregistered 'distressed market' real estate funds in what regulators say was a Ponzi-like scam.
The training released by the SEC, FINRA and NASAA is intended to help firms and financial services professionals comply with the 2018 Senior Safe Act, and lists a number of 'red flags' that should raise advisors' and...
The multiday program will include the traditional WealthStack and Inside ETFs events, as well as RIA EDGE, designed for executives and advisors at growth-oriented registered investment advisory firms.
According to the commission, Intervest International failed to disclose that more affordable, but otherwise identical, fund alternatives to one advisor's recommendations were available for clients.
The Justice Department accused Paul R. McGonigle of defrauding several investors by making withdrawals from their annuities without their approval or knowledge.
Centaurus Financial did not self-report 12b-1 fees charged to clients during an earlier amnesty period, prompting the SEC to levy the fine over conflicts and undisclosed revenue-sharing agreements.
Sutton, Mass.–based advisor James Couture was charged with wire fraud and aggravated identity theft and was accused of using client funds for his own personal and business expenses.
The charges against the executives of LJM Funds Management and LJM Partners claim they failed to inform investors about potential losses. The funds later suffered a $1 billion loss.
