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.
FINRA accused D. Allen Blankenship of unsuitable mutual fund trading. Still, the broker is looking to SEC v. Jarkesy and claiming the disciplinary proceedings violate his right to a jury trial.
Last week, the Court ruled that the commission’s use of in-house administrative law judges violated the Constitution’s guarantee of a jury trial in certain cases. That may change the landscape for financial advisors defending themselves against...
The 6-3 decision deals a blow to an administrative system the SEC once used to adjudicate more than 100 cases a year before scaling back amid legal challenges.
James McDonald was taken into custody in Port Orchard, Wash. and will face federal charges in Los Angeles. He is accused of losing millions in client funds and fled an SEC subpoena in 2021.
The staffers, all in the firm’s wealth- and investment-management unit, were “discharged after review of allegations involving simulation of keyboard activity creating impression of active work.”
