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The SEC settled charges against Milton Dosal Jr., arguing that he raised nearly $100,000 from about 41 investors claiming he could trade stocks on their behalf despite not being a registered broker.
A Morningstar panel also discussed the firm's concerns over the Labor Department's proposed rules on fiduciary exemptions, stressing the importance of clarity in SEC and DOL enforcement.
While some firms slowed growth during the pandemic, RBC's head of recruitment, Kristen Kimmell, landed billions in assets with a net gain in advisors this year that topped rivals.