Scott Allen Fries, a former Transamerica rep and adviser, took at least $458,000 from at least 10 individuals.
Finra didn't provide details about the rules, which will be made public when they're submitted to the Securities and Exchange Commission.
Vanguard was forced to sell as much as 15% of the assets in retail target-date funds, resulting in substantial capital gains taxes for investors who held the funds in taxable accounts, the lawsuit asserts.
Lee will stay at the watchdog until President Joe Biden names her successor and that person is confirmed by the Senate.
The regulator said that firms should stress-test trading positions in light of 'current events and potential market movements.'
Firms say technological advances allow them to oversee reps no matter where they work. A compliance expert cautions that the best evidence of malfeasance is found on site.
The firm's applications related to the DoubleLine Opportunistic Bond ETF and the DoubleLine Shiller CAPE U.S. Equities ETF have been granted 'effective immediately.'
The agency 'has serious concerns about the prudence' of exposing plan participants' retirement savings to investments that carry 'significant risks of fraud, theft, and loss.'
The regulator is assessing the risks that may arise when retail investors purchase complicated investments without the help of a financial adviser.
Investors representing $4 trillion urge regulator to include Scope 3 emissions in corporate climate reporting.
Advisers will have to wait a while longer before they get answers on issues such as custody, as regulators sort out crypto oversight.
The White House executive order is the first attempt at coordinating the government's strategy, although it falls short of providing a clear direction on regulation.
Retail investors can now benefit from the inside scoop right along with the 18-term U.S. representative.
Best execution has become a regulatory priority for Finra and the SEC in the wake of the January 2021 GameStop trading frenzy.
David Schamens, who was barred back in 1992 for lying to retail investors, solicited investments in a pooled investment vehicle, but used the money for personal expenses and to repay previous investors, according to the SEC.
Even with a long runway — the rule became effective last May 4 with an implementation deadline of Nov. 4 — getting ready for the measure has become a top compliance worry for advisers.
The size of the agency's examination staff hasn't increased meaningfully in recent years and it can't keep up with the growth in advisers, an official said.
The lawsuit filed in 2020 questioned the plan's procedures for selecting prudent investments and alleged it failed to properly monitor record-keeping fees.
The new director of the SEC Division of Investment Management, William Birdthistle, makes his public debut at the Investment Adviser Association conference.
The index-based strategy, which has been described as 'baby steps' into the crypto space, will not offer direct exposure to digital currencies.
