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.
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.
The commission’s Standards of Conduct Implementation Committee urged advisors and firms to be concise when writing their relationship summaries and to avoid unnecessary legal jargon.
The Securities and Exchange Commission and Commodity Futures Trading Commission imposed unusually stiff penalties on the firm and its subsidiaries for record-keeping violations.
