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.
