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.
Cambridge Investment Research’s RIA business 'breached its fiduciary duty' by failing to disclose agreements with clearing brokers to share revenue with the firm from some mutual funds and wrap fee accounts, according to the SEC.
After President Joe Biden urged Congress to pass the bill during his address, the IBD advocacy organization argued it could weaken the independent contractor status of many financial advisors.
New Mexico follows Pennsylvania, Kentucky and Mississippi in finalizing rules on annuity sales based on the National Association of Insurance Commissioners’ 2020 model rule.
The Lincoln, Neb.–based RIA failed to disclose that it would benefit from revenue-sharing payments when clients invested in certain mutual fund share classes, and it will pay $4.6 million in restitution and penalties.
Arizona-based advisor Richard Hoffman urged clients to invest with the "Michael Jordan of algorithmic cryptocurrency trading" but did not disclose the alleged Ponzi scheme agreed to give him up to $1.5 million in low-interest loans in return...
The Keystone State is the 19th to pass a rule on annuity sales based on the National Association of Insurance Commissioners’ 2020 model rule. Wisconsin, North Carolina and Nevada look to follow soon.
