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.
The state became the latest to finalize regulation or legislation based on the standard set by the National Association of Insurance Commissioners to align annuity rules with Reg BI.
Only a small fraction of firms have increased their use of client testimonials and endorsements in the wake of the SEC’s updated marketing rules, according to a recent Investment Adviser Association survey.
Allianz's guilty plea in the case was unusual. Most companies resolve government investigations by paying money and pledging corrective actions without admitting any wrongdoing.
The new rules are meant to discourage runs like the one in March 2020 and shield remaining shareholders from costs tied to the high level of redemptions.
David Geake solicited an elderly couple to pledge securities as collateral for a bank loan to support a startup the rep had invested in, but the couple allegedly lost their money when the company failed.
The SEC first introduced plans for new rules in December 2021. That proposal would have imposed swing pricing requirements that critics said could make funds more costly and less attractive.
