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Saturday, April 7, 2018
SEC Orders Three Investment Advisers to Pay $12 Million to Harmed Clients

SEC Orders Three Investment Advisers to Pay $12 Million to Harmed Clients

Today the SEC announced that three advisers have settled charges for breaching fiduciary duties. Per the SEC, PNC Investments LLC, Securities America Advisors Inc., and Geneos Wealth Management Inc. failed…

Saturday, March 17, 2018
Are you applying Due Diligence?

Are you applying Due Diligence?

In 13 years acting as an auditor in the securities regulation industry it was surprising to find out how few in the industry conducted, and documented, due diligence of the…

Sunday, March 11, 2018
Proposed New Rule for Outside Business Activities and Private Securities Transactions

Proposed New Rule for Outside Business Activities and Private Securities Transactions

FINRA is requesting comments on a proposed new rule for outside business activities and private securities transactions of registered persons. This proposed rule would replace FINRA Rule 3270 (Outside Business…

Sunday, March 11, 2018
SEC Fines Adviser for Custody Rule Violations

SEC Fines Adviser for Custody Rule Violations

The Securities & Exchange Commission (“SEC” or the “Commission”) instituted cease and desist proceedings against Financial Fiduciaries, LLC, (“Financial Fiduciaries”) a registered investment adviser located in Wausau, Wisconsin, and Thomas…

Saturday, March 10, 2018
Longtime Merrill Lynch Rep Faces Prison for Overcharging Clients

Longtime Merrill Lynch Rep Faces Prison for Overcharging Clients

Thomas Buck, a dually registered Investment Adviser Representative who worked at Merrill Lynch for 33 years prior to being terminated in 2015, now faces prison following his guilty plea on…

Sunday, February 18, 2018
SEC Will Not Impose Civil Penalties on Advisers Who Self-Report Their Failure to Disclose Conflict of Interests Related to Share Class Selection

SEC Will Not Impose Civil Penalties on Advisers Who Self-Report Their Failure to Disclose Conflict of Interests Related to Share Class Selection

The Securities and Exchange Commission (“SEC”) has announced, under a new Share Class Selection Disclosure Initiative (“SCSD Initiative”), that it will not seek civil penalties against eligible investment advisers who…

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