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.
Three Charles Schwab investment advisor subsidiaries did not disclose that they were mandating cash allocation in robo accounts that would lower investors’ returns, according to the commission.
Patrick Churchville previously pleaded guilty and was sentenced to seven years in prison for his role in the scheme that resulted in more than $27 million in losses to private funds his firm controlled, according to the SEC.
Kahn Advisory Services and founder Joseph Kahn will pay more than $1 million after allegedly misstating facts about the commission rates of its affiliated broker/dealer.
