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 settlements are the latest in a string of SEC enforcement actions for similar conduct, which one lawyer says is now 'low-hanging fruit' for the regulator.
The two petitions ask the commission to revisit a 2007 proposed rule on whether investment advice can be 'solely incidental' for brokers and to consider modernizing an aspect of the Investment Advisers Act of 1940.
Former MML rep Keith Gill was posting online as 'Roaring Kitty' about GameStop and other stocks, right under the firm’s nose, according to Massachusetts securities regulators.
Felix Gorovodsky will serve nearly three years in prison for defrauding an elderly woman and using her funds to pay personal expenses, including more than $100,000 in student loans.
The SEC chair’s testimony before the Banking, Housing, and Urban Affairs committee also touched on issues like crypto assets and climate risk disclosures for issuers.
Stephen Condon Peterson sold bogus promissory notes, using investor cash to buy art and fund a Costa Rica vacation home, according to the Justice Department.
The SEC argued sanctioned firms failed to follow proper digital security policies, resulting in data breaches that exposed client information. But what is 'reasonably designed' protection?