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.
Daryl Bank faces a maximum sentence of 300 years in prison after a jury in Virginia federal court found him guilty of defrauding investors, many of whom were retirees.
In a letter to the firm that administers the protocol, J.P. Morgan specified that its participation does not extend to its branch-based advisors, some of whom they are charging in court with soliciting former clients.
Peter Quartararo convinced investors that he could purchase shares of companies like Peloton or AirBnb before their initial public offerings, according to prosecutors and the SEC.
While many courts and private arbitration forums have already opened, FINRA continues to postpone in-person arbitration, keeping investors from recovering their losses, PIABA argues in a recent letter.
The changes reform advocates seek would require U.S. family offices to register as investment advisors and publicly report holdings on a quarterly basis.
Alex Oh, who joins from law firm Paul, Weiss, Rifkind, Wharton & Garrison, replaces Stephanie Avakian, who stepped down from the role in December after a four-year tenure under the Trump administration.
The bank filed a complaint in federal court alleging that the former employees resigned earlier this month and have attracted 48 clients with about $59 million in assets.
The settlement between the SEC and Chistoper Hibbard comes several months after he was sentenced to more than eight years in jail for defrauding numerous clients.