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.
While many courts and private arbitration forums have already opened, FINRA continues to postpone in-person arbitration, keeping investors from recovering their losses, PIABA argues in a recent letter.
The changes reform advocates seek would require U.S. family offices to register as investment advisors and publicly report holdings on a quarterly basis.
Alex Oh, who joins from law firm Paul, Weiss, Rifkind, Wharton & Garrison, replaces Stephanie Avakian, who stepped down from the role in December after a four-year tenure under the Trump administration.
The bank filed a complaint in federal court alleging that the former employees resigned earlier this month and have attracted 48 clients with about $59 million in assets.
The settlement between the SEC and Chistoper Hibbard comes several months after he was sentenced to more than eight years in jail for defrauding numerous clients.
Sen. Jeff Merkley and Rep. Bill Foster have introduced a new bill addressing an old issue—whether to ban mandatory arbitration agreements between investors and advisors.
As chair of Maryland's Financial Consumer Protection Commission, Gary Gensler advocated for a client-first fiduciary standard for broker/dealers as well as 'anyone who holds themselves out as an advisor.'
J.P. Morgan claims Gabriel Gomez enticed clients with about $2.9 million in managed assets to join him at Wells Fargo, a violation of his employment agreements.
