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.
Phillip W. Conley could face up to 20 years in prison for portraying himself as an investment advisor to raise funds from about 18 victims, according to the Justice Department.
SEC Chair Gary Gensler’s first pick, Alex Oh, resigned within days of taking the job after a federal judge questioned her conduct in a case she was working on in private practice.
The commission argued Crown Capital Securities recommended higher-fee funds to clients without disclosure and failed to self-report these conflicts to the SEC.
The firm is the latest charged with failing to oversee reps who recommended early rollovers of unit investment trusts (UITs) that left clients saddled with higher sales charges.
Robinhood’s growing cryptocurrency business, which was rolled out in 2018 and now allows customers to trade Bitcoin, Ethereum and even Dogecoin, has drawn questions from the SEC.
Until last July, Guggenheim Securities prohibited employees from reaching out to officials at the SEC or other watchdogs without prior consent from the firm’s lawyers.
The Institute for the Fiduciary Standard released its alternate version of the disclosure document, arguing more was needed to draw the distinction between investment advisors and broker/dealers.
The SEC Chair said he’s directed the agency’s staff to review how to toughen a slew of regulations that touch everything from meme stocks to blank-check companies.
According to the regulatory agency, the California-based broker/dealer failed 'to establish and maintain a reasonably designed supervisory system' on the sale of variable universal life insurance contracts and mutual funds during several years.