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.
The Court ruled 8-1 in Liu vs. the Securities and Exchange Commission that the practice was allowable provided that the fees did not exceed the "wrongdoer's net profits," according to a majority opinion written by Justice Sonia Sotomayor.
The regulatory agency for broker/dealers has changed language to make clear that its rule would not apply to recommendations covered by the SEC's rule, which will be implemented on June 30.
LPL program highlights the need for continuity planning in wake of an advisor's death. 'Whether on this side of the grave or the other, we never want to leave our clients floundering.'
Former Assistant Secretary of Labor Phyllis Borzi condemned the advocacy organization for trying to inhibit the SEC's ability to act on existing rules, during an Institute for the Fiduciary Standard webcast.
The SEC chairman also introduced a new website for clients to assist them in reading their Form CRS, and said advisors should focus on ensuring rollover recommendations are sound.
The state securities commissioners are making a mistake mandating state-registered advisors adhere to the SEC's June 30 deadline to complete the form, according to securities attorney Max Schatzow.
Jason C. Nielsen engaged in a 'pump-and-dump' scheme to boost interest in a biotech company in which he owned stock, hoping to sell his securities for a profit, according to a complaint filed by the SEC.