In a case involving charges of undisclosed compensation brought by the Securities and Exchange Commission, jurors in a Connecticut federal court returned a guilty verdict against an RIA firm and its owner.
The jury found that Westport Capital Markets, a registered investment adviser and its owner, Christopher E. McClure, defrauded clients by “repeatedly purchasing securities that generated significant undisclosed compensation, enriching themselves at their clients’ expense,” the SEC said in a release.
"Investment advisers cannot mislead their clients about conflicts of interest," said Adam Aderton, co-chief of the SEC's asset management unit.
Specifically, the trial determined that the “defendants acted intentionally, knowingly, or recklessly,” according to the release.
Concerns about outliving savings and healthcare costs are reshaping how "Peak 65" Americans and advisors approach income planning.
Some investors recently have seen million dollar plus decisions by FINRA arbitration panels involving complex products decisions go their way.
Former advisor Isaiah Williams allegedly used the stolen funds from ex-Dolphins defensive safety Reshad Jones for numerous personal expenses, according to police and court records.
Modern Wealth's latest deal for a California-based fee-only RIA marks its fourth acquisition of 2025.
Sen. Warren has warned of private market investment risks due to opacity, illiquidity, and past regulatory issues.
Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.
