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.
A survey from the North American Securities Administrators Association also found that fraudulent schemes using promissory notes, social media and self-directed IRAs worried state securities regulators the most for 2022.
Tara M. Brunst pleaded guilty to conspiracy to commit mail and wire fraud, mail fraud and three counts of wire fraud. She was originally charged in September 2020 with co-defendants Raymond A. Erker and Kevin Krantz.
Academics at the University of Oregon found that private equity–backed RIAs had a 147% increase in the percentage of their advisors committing misconduct after the takeover.
Under SEC Chair Gary Gensler, regulators are striking a different tone than under former Chair Jay Clayton. But with further changes at the commission and DOL likely still to come, how will the industry respond?
According to the commission, John Marques raised nearly $7.9 million and generated $824,000 in commissions from allegedly recommending and selling unregistered securities from the Florida-based company.
The firm will pay more than $16 million after the SEC argued 1st Global Advisors recommended certain mutual fund share classes for clients when more affordable options were available.