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.
Regulators stressed they'd be looking for 'good faith' efforts from firms in achieving compliance as the implementation date for the SEC rule arrives in June 2020.
FINRA slapped the firm, valued at $7.6 billion as recently as July, with a $1.25 million fine for failing to meet the requirements of the regulator's Best Execution rule.
The CFP Board said it would increase the frequency of how often it checks advisors for regulatory infractions, following revelations it failed to note the marks on public facing sites touting the credentials of thousands.
Donald Laguardia, CEO of Manhattan-based L-R Managers, now bankrupt, allegedly took millions from investors, which was supposed to go into frontier markets investments.
Some shareholders of Ladenburg stock argue that the firm failed to disclose material financial projections and that the Advisor Group deal undervalues their shares.
