The Securities and Exchange Commission has charged Miami-based E*Hedge Securities and its president, Devon W. Parks, with failing to provide required books and records during an SEC examination.
According to the SEC's complaint, from mid-April to the present, E*Hedge and Parks was operating COVID-19-related investment websites but failed for a second time to produce documents requested by an SEC examination staff.
The complaint also alleges that E*Hedge does not meet the applicable requirements to be registered as an internet adviser.
The SEC is seeking preliminary and permanent injunctive relief, an order to preserve and produce records, and civil penalties.
By listening for what truly matters and where clients want to make a difference, advisors can avoid politics and help build more personal strategies.
JPMorgan and RBC have also welcomed ex-UBS advisors in Texas, while Steward Partners and SpirePoint make new additions in the Sun Belt.
Counsel representing Lisa Cook argued the president's pattern of publicly blasting the Fed calls the foundation for her firing into question.
The two firms violated the Advisers Act and Reg BI by making misleading statements and failing to disclose conflicts to retail and retirement plan investors, according to the regulator.
Elsewhere, two breakaway teams from Morgan Stanley and Merrill unite to form a $2 billion RIA, while a Texas-based independent merges with a Bay Area advisory practice.
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.
