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.
Daryl Bank was convicted for his role in a scheme that defrauded more than $25 million from over 300 victims, many of whom were elderly, according to the DOJ.
The settlements are the latest in a string of SEC enforcement actions for similar conduct, which one lawyer says is now 'low-hanging fruit' for the regulator.
The two petitions ask the commission to revisit a 2007 proposed rule on whether investment advice can be 'solely incidental' for brokers and to consider modernizing an aspect of the Investment Advisers Act of 1940.
Former MML rep Keith Gill was posting online as 'Roaring Kitty' about GameStop and other stocks, right under the firm’s nose, according to Massachusetts securities regulators.
Felix Gorovodsky will serve nearly three years in prison for defrauding an elderly woman and using her funds to pay personal expenses, including more than $100,000 in student loans.
