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.
Robinhood’s growing cryptocurrency business, which was rolled out in 2018 and now allows customers to trade Bitcoin, Ethereum and even Dogecoin, has drawn questions from the SEC.
Until last July, Guggenheim Securities prohibited employees from reaching out to officials at the SEC or other watchdogs without prior consent from the firm’s lawyers.
The Institute for the Fiduciary Standard released its alternate version of the disclosure document, arguing more was needed to draw the distinction between investment advisors and broker/dealers.
The SEC Chair said he’s directed the agency’s staff to review how to toughen a slew of regulations that touch everything from meme stocks to blank-check companies.
According to the regulatory agency, the California-based broker/dealer failed 'to establish and maintain a reasonably designed supervisory system' on the sale of variable universal life insurance contracts and mutual funds during several years.
The state joins more than a dozen others that have finalized rules based off the model created and passed last year by the National Association of Insurance Commissioners.
According to the commission, Ramiro Jose Sugranes ran a scheme to siphon profitable trades into accounts held by close relatives, with unprofitable trades left to other clients, leading to more than $5 million in losses.
SEC says California-based Robert Joseph Armijo personally made over $1 million in commissions by selling unregistered 'distressed market' real estate funds in what regulators say was a Ponzi-like scam.
