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.
Sutton, Mass.–based advisor James Couture was charged with wire fraud and aggravated identity theft and was accused of using client funds for his own personal and business expenses.
The charges against the executives of LJM Funds Management and LJM Partners claim they failed to inform investors about potential losses. The funds later suffered a $1 billion loss.
The SEC sued the promoters for advertising the merit’s of BitConnect’s “lending program” in 2017 by creating testimonials on YouTube, sometimes multiple times a day
The rule filing would have made several changes to the regulatory agency's expungement process, including establishing "specialized arbitration panels" for such requests.
Speakers during the closing session of the group's Private Client Virtual Conference this week also detailed the legislative prospects for the PRO Act, which could limit IBDs' contractor status.
SEC Chair Gary Gensler told lawmakers that special purpose acquisition companies and digital coins posed significant policy and investor-protection questions.
Edward E. Matthes pleaded guilty to wire fraud charges last year; his 27 victims included many elderly investors as well as his parents, according to the Justice Department.
Regulators also detailed findings from examinations into how firms handled the initial implementation of Reg BI and Form CRS requirements during panels at FINRA's annual conference.
