Regulation & Compliance

The Financial Services Institute also brought on four new board members, including Commonwealth Chief Regulatory Affairs Officer Robert Molinari and Broadridge Financial Solutions President Chris Perry.

Atlas Financial Advisors falsely claimed Morningstar had “verified” and “validated” the hypothetical performance of its proprietary “Portfolio Shield” strategies, according to the SEC. It is the Commission's latest enforcement action stemming from...

Carlo di Florio, president of the industry compliance consulting firm ACA Group, said SEC Chair Nominee Paul Atkins’ approach to digital assets “would be one of the most important legacies” he’ll leave should he be confirmed.

The commission charged South Carolina-based former rep Eric Cobb with defrauding clients while working for SeaCrest Wealth Management. The firm paid $375,000 to settle the charges.

According to charges filed by the Securities and Exchange Commission and the Justice Department, a trio of Nigerian nationals stole more than $2.9 million from at least 28 investors.

The SEC said the wirehouse’s broker/dealer’s inadequate policies failed to detect hundreds of unauthorized transfers between May 2015 and July 2022 from its customers’ or clients’ accounts.