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.
Over the span of 12 years, Michael Barry Carter transferred about $6 million from brokerage and elderly investment advisory clients into his own bank account, the SEC claims.
The Massachusetts commonwealth secretary’s Securities Division charged former NEXT Financial Group representative Charles Kulch with stuffing client accounts full of the high-risk, high-commission investments.
A hybrid examination would be a viable, if temporary, approach to comply with regulations while protecting the health and safety of examiners, branch employees and advisors.
The SEC had previously revoked International Investment Group's registration as an investment advisor, and also obtained a final judgment requiring the firm to pay $35 million in disgorgement and prejudgment interest.
The regulator is now taking online test appointments for the Series 7, the Securities Industry Essentials (SIE) and Series 6, as well as NASAA’s Series 63, 65 and 66.
The data shows more than 80,000 jobs in the investment advice industry were 'retained' due to the small business loan assistance—but that number comes with a huge asterisk.
The SEC charged Abra and Plutus Tech with offering and selling security-based swaps to investors that were not properly registered, and committing these swaps outside proper securities exchanges.
A U.S. district court entered final judgments against former deVere CEO Benjamin Alderson and a former manager, Bradley Hamilton. Alderson was ordered to pay a total of $400,000 in disgorgement, prejudgment interest and civil penalties, while...
The names and addresses of loan recipients under $150,000 were not disclosed, but it may point to the amount of assistance that went to help smaller firms with lower profits and fewer employees.
One lawyer representing affected investors in suits against the company excoriated the loan, calling the move 'one of the most flagrant abuses of taxpayer dollars of this century.'