The New York-based advisor, formerly affiliated with Securities America, has also been suspended for failing to disclose his status as a beneficiary.
The agency's new chairman Paul Atkins says "common-sense" review of 23-year-old restrictions could unlock the $31 trillion industry to more investors.
A New Jersey appellate court reinstates regulators' ability to seek both restitution and disgorgement in a securities fraud case involving unregistered investments and diverted investor funds.
A federal appeals court has sided with activist investors in a closely watched proxy battle involving nine Puerto Rico municipal bond funds.
Judge rejects shareholder lawsuit targeting Fidelity's preferred stock deal.
State regulators coalition urge additions to proposed rule change, including activities at unaffiliated investment advisers and stricter recordkeeping.
With a new regime at the SEC, Savvy Wealth's Lisandra Wilmott speaks out on ongoing and unfolding risks around off-channel communications, AI, and private market investments.
The firm has been dogged by compliance issues for years, resulting in multiple fines by various regulatory bodies.
Wall Street giant avoids penalties as regulator ends yearlong review of interest treatment on idle client cash.
Regulator wants to know which rules are outdated
Buyouts, layoffs, early retirements, and hiring freezes have added up to the steepest cuts in decades at the SEC and other federal agencies.
Action follows years of investigation by US law enforcement.
The Finra filing cited an arbitration which involved seven claimants seeking compensation for alleged securities law violations.
The SEC hailed the verdict against the investment advisor, who the agency said breached his fiduciary duty to retired and pre-retiree clients.
United Planners' costs related to lawsuits and regulators' actions into the advisor continue to rise.
Smaller firms and hybrid advisors may see relief as Finra looks to ease compliance burdens and update its oversight approach.
Financial regulators face hurdles to implement new rules
Loan agreements, including one made with a senior client, were also used to fund unapproved advertising ventures as well as personal expenses, according to Finra.
A $3.1 million attorney fee award in CBIZ’s favor was reversed after an Indiana appellate court ruled Zotec had not breached its acquisition contract merely by bringing claims.
The Wisconsin Court of Appeals ruled that a receiver can recover over $137,000 in alleged preferential payments from a Utah funder, despite forum and choice-of-law clauses in merchant cash advance agreements.
