The charges against Michael and David Sztrom were filed late last week and are one of two complaints against advisors related to a California-based RIA.
As chair of Maryland's Financial Consumer Protection Commission, Gary Gensler advocated for a client-first fiduciary standard for broker/dealers as well as 'anyone who holds themselves out as an advisor.'
With last week's violence at the Capitol and this week's presidential inauguration weighing on Americans' minds, advisors must consider if and how politics should arise in conversations with investors.
A Hartford, Conn.–based team partnered with RIA support platform Integrated Advisors Network to go independent and expand client access to alternative investments.
Justin Robert King was offering interests in his company, Elevate Investment Fund, when there was no such legal entity, leading to nearly $4 million in investor losses, according to SEC allegations.
According to the commission, the duo claimed a "spiritual revelation" had yielded an algorithm for a high-yielding trading platform, but they were just two con men who met in prison.
The agency has continued to push back the resumption of physical arbitration and mediation proceedings because of COVID-19, though hearings can be held via teleconferencing or Zoom.
With the acquisition of MRA Associates, Captrust can now offer income and estate tax compliance and consulting services, a new offering for its clients.
The lapses in record retention, fingerprinting and failing to oversee the drafting of consolidated reports led to 1.5 million costumer communications being deleted and a former rep running a Ponzi scheme, FINRA claimed.
