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The SEC has imposed $160,000 in civil penalties against Aaron R. Parthemer, a former NFLPA Registered Financial Advisor who defrauded his athlete-clients, caused violations of the record keeping requirements of…
The Securities and Exchange Commission has adopted amendments to the Form ADV Part I to capture additional information regarding investment advisers. Beginning on October 1, 2017, investment advisers filing an…
Not long ago, Hurricane Katrina exposed shortcomings within our nations emergency recovery departments, such as FEMA, whose responsibility it is to respond effectively when lives are in the greatest need….
IRA rollovers are generally an important component of many advisors’ business model. Now, could some of these rollovers be caught within the potentially confusing boundaries of the DOL Fiduciary Rule?…
Capital Dynamics Inc. is a New York-based investment advisory firm that agreed to pay a penalty of $275,000 when the SEC found that the firm improperly allocated investment funds. The…
The Securities and Exchange Commission has ordered the dually registered Investment Adviser/Broker-dealer Cadaret, Grant & Co., Inc. to pay disgorgement, prejudgment interest, and civil penalties of more than 3 million…
During the course of recent examinations conducted by the Securities and Exchange Commission (the “Commission” or the “SEC”), the agency noted an increase in cybersecurity preparedness among broker-dealers, investment advisers,…
FINRA proposes increased regulations to help curb criticism from Congress and the Public Investors Arbitration Bar Association, as well as to strengthen the regulatory industry in general. FINRA has proposed…
KMS Financial Services, Inc. is based in Washington and dually registered as a broker-dealer and investment adviser. The SEC found that in its capacity as registered investment adviser, the firm…
According to a recent study released by Wells Fargo Asset Management, financial advisors working with defined contribution plans may not be delivering the services that their clients value most. When…
In my seventeen years’ experience in the field of financial services compliance, the one thing that still manages to surprise me is when I mention the term wrap fee program…
Phishing expeditions in which hackers trick people to reveal confidential information or cause them to introduce a virus onto their computer, are on the rise. As a result, firms should…
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