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.
As the Democratic Party vows to reverse the Trump administration’s financial advice regulations, a panel of legal experts says those rules can’t simply be undone.
While many brokerage and advisory firms had followed compliance mandates for developing their forms, the Commission still found examples of forms that could be "more clear or otherwise improved."
The Commission said Mark L. Hopkins directed more than $1 million from brokerage accounts towards his own account at a credit union in a complaint filed Friday.
Hester Peirce and Caroline Crenshaw appeared before a remote hearing of the Senate Committee on Banking, Housing, and Urban Affairs to discuss their concerns and ambitions for the commission's future.
Over the span of 12 years, Michael Barry Carter transferred about $6 million from brokerage and elderly investment advisory clients into his own bank account, the SEC claims.
The Massachusetts commonwealth secretary’s Securities Division charged former NEXT Financial Group representative Charles Kulch with stuffing client accounts full of the high-risk, high-commission investments.
A hybrid examination would be a viable, if temporary, approach to comply with regulations while protecting the health and safety of examiners, branch employees and advisors.
The SEC had previously revoked International Investment Group's registration as an investment advisor, and also obtained a final judgment requiring the firm to pay $35 million in disgorgement and prejudgment interest.
