About 70,000 self-directed customers will transfer from Folio Investments to Interactive Brokers as a result of the deal, expected to close in January.
Martin Ray Evans had approval from customers to transfer their accounts to his new firm, but he didn't have all the information he needed. So he impersonated them on the phone to get it, according to the regulatory...
The association's new model rule would require investment advisor representatives to complete continuing education, but some legal experts worry about a 'patchwork' of mandates.
The regulatory agency originally planned to resume arbitration and mediation proceedings at the end of January, but they can now proceed only via Zoom or teleconferencing.
The proposal is based on the NAIC's model regulation intended to align with Reg BI. But if a Biden administration urges changes to the SEC rule, how will states approach amending their own annuity regulations?
Thomas A. Sporkin will join the board in January as the managing director, enforcement, and will be tasked with modernizing the board's detection, investigation and prosecution processes.
The SEC said Anson Jean-Pierre told investors the funds would be used to develop projects in Haiti, but he actually spent some of the money on things like retail and travel purchases.
The three advisors at the San Diego–based Nautica Wealth Advisors had all previously been affiliated with the independent broker/dealer and are reconnecting with the company from Cetera.
