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 Department of Justice also charged Surage Roshan Perera of wire fraud, investment advisor fraud and money laundering, for allegedly defrauding an unnamed investor.
John Woods pleaded to one count of wire fraud for a Ponzi scheme that stretched over 10 years, according to the DOJ; the fraud also resulted in Oppenheimer & Co. facing a $35 million fine from FINRA arbitrators.
The SEC charged Tron founder Justin Sun with selling unregistered crypto assets, and settled charges with Lindsay Lohan, Jake Paul, Soulja Boy and others for touting them.
Bank-affiliated brokers and advisors can expect more scrutiny to ensure bank capital and managed assets are separated, according to bank watchers. But in the eyes of clients, that may make little difference.
