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.
According to the commission’s complaint, Florida-based former advisor and broker German Nino made numerous unauthorized transfers, allegedly using the money to purchase gifts and to pay back a prior victim’s misappropriated funds.
The commission will include five members who do not currently sit on the CFP Board’s Board of Directors, and its chair previously headed a task force that scrutinized the Board’s enforcement program.
RIA Lawyers, founded by Max Schatzow, Cary Kvitka and Ryan Walter, will work with advisory firms with assets under management between $100 million and $10 billion.
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.
