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.
In a remote hearing before the U.S. Court of Appeals for the 2nd Circuit, XYPN attorneys argued the proposal would cause financial harm to financial planners.
The new rules will go into effect on June 30, the same day that the board will begin enforcing its Code of Ethics and Standards of Conduct, according to the board's general counsel.
Ritholtz Wealth Management was one of several firms to disclose it received a Paycheck Protection Program loan to help with expenses amid the coronavirus pandemic, according to Form ADVs submitted to the SEC.
Lakeview Capital Partners, which manages $3.3 billion in client assets, received $581,000 and intends to apply for forgiveness next month, according to a newly updated Form ADV.
NASAA told Congress to avoid proposals that would weaken securities laws, and that it should address unpaid arbitration awards and other investor protection issues.
The Indianapolis-based firm with about $9 billion in assets under advisement intends to use the loan primarily to 'maintain headcount and compensation,' according to a new Form ADV.
Thoroughbred Financial Services said the loan would be used to support payroll and other expenses allowed under the program's guidelines, according to the firm's updated Form ADV.
Paul Horton Smith Sr. faces criminal charges for allegedly using new investor funds to pay interest and the return of principal to those same investors.
