Regulation and Compliance issues for Wealth Professionals can be challenging to navigate especially when the SEC is involved. Catch the latest news and analysis on compliance updates that impact financial advisors.
Both Crestone Asset Management and IPG Investment Advisors cited the economic impact of COVID-19's spread, and disclosed the loans in newly updated Forms ADV submitted to the SEC.
Ohio-based Wealthquest said it hoped to use the loan to retain its staff and fund payroll costs and health and insurance benefits for employees, according to an updated Form ADV submitted to the SEC.
The increased demands placed on chief compliance officers in a volatile market are creating regulatory risks that threaten to 'trickle up' to executives and boards.
Initially, most enforcement actions will pertain to infractions the agency would have pursued under the suitability standards regardless, according to FINRA's head of enforcement.
With some exceptions, Reg BI scrutiny will be included in broader firm examinations rather than a sole focus of inquiry, according to one FINRA representative.
The company failed to stop potential conflicts of interests involving credit rating analysts' engagement with marketing efforts in 2015 and 2016, according to a commission order.
