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SEC exams director reticent about how agency will probe marketing rule
But a former SEC official told the audience at the ComplyConnect conference in Austin not to expect the agency to be lenient in initial exams.
SEC bars adviser already sentenced to 6 years in prison
Martin A. Ruiz took $8 million of client money and spent the vast majority of the funds on personal expenses.
Midterms result in status quo with a twist on Capitol Hill
A push to restore and expand a tax break for investment advice and other issues affecting advisers is likely to be stalled by gridlock.
SEC exams director warns advisers to strengthen cyber defenses
Richard Best tells an audience of compliance professionals that online attacks pose a threat to firms of all sizes.
JPMorgan, money managers pushing back against proposed SEC names rule
The agency is floating tighter rules that would require certain funds to have at least 80% of assets correspond to investment strategies listed in their names.
Supreme Court hearing arguments to allow challenges to SEC, FTC
The justices are considering whether those facing agency claims can go straight to federal court with constitutional challenges — including attacks on the use of in-house judges to handle cases.
Platform lets retirement savers access crypto investments
ForUsAll says its Alt401(k) platform enables employees to invest in crypto through a brokerage window. Meanwhile, the firm has filed a lawsuit challenging the DOL's crypto warning.
What’s behind the phenomenon of advisers behaving badly?
Greed alone doesn’t explain the appalling acts some advisers commit against their clients.
5 things advisers should be thankful for in 2022
When someone needs guidance for the future, nothing beats a live financial adviser, and advisers should be grateful the public recognizes that.
Wells Fargo faces demand for fine exceeding $1B from CFPB
The Consumer Financial Protection Bureau is pressuring the bank to pay the fine to settle a series of investigations into the bank's mistreatment of customers.
Advisers continue to wrestle with SEC marketing rule now in force
It's D-Day for the regulation that gives advisers latitude to use client testimonials to promote their practices.
CFP Board suspends Oklahoma planner
The action follows a Securities and Exchange Commission settlement with Gregory Womack and his Edmond-based firm.
New York adviser pleads guilty to two counts of fraud
Adam Belardino, CEO of the Maddox Group, was charged with embezzling more than $313,000 from one client and fraudulently obtaining commissions on life insurance for another client.
SEC seeks more input on Finra proposal to allow supervision from home offices
State regulators and PIABA have questioned whether a residential supervisory location would provide appropriate investor protection.
Gensler warns market players that SEC crackdown is just getting started
The Securities and Exchange Commission chairman told securities lawyers that the agency would pursue violations wherever and however they occur.
CFP Board sanctions 13 planners
Five are censured, three suspended, three revoked and two barred by the Certified Financial Planner Board of Standards Inc.
Finra extends remote inspections through 2023
The regulator wants to provide relief from in-person supervision until the SEC rules on a pilot program for online oversight.
Wells Fargo in discussions with regulator to resolve investigations
The firm is in talks with the Consumer Financial Protection Bureau regarding cases involving automobile lending, consumer-deposit accounts and mortgage lending.
On his way to jail, fraudster rips off brokerages
The SEC charged Syed Arham Arbab and five friends with trading with fake account deposits, in a 'free-riding' scheme that caused two brokerages to lose $146,600.
Oppenheimer moves to cancel $36.7 million arbitration decision
While the firm filed a motion to vacate the award in Superior Court in DeKalb County, Georgia, it's extremely rare for courts to overturn Finra arbitration decisions.
