The outcome of a recent jury trial in Manhattan has underscored the importance of the Securities and Exchange Commission's new Regulation Best Interest and the Commission's ongoing commitment to enforcing the standard of investment suitability for retail clients.
One of the more complicated aspects of fiduciary responsibility rests with a firm's ability to adequately identify and disclose potential conflicts of interest. What may not appear to be a conflict can nevertheless violate securities laws whether it be a material misstatement or omissions in reports filed with the Securities and Exchange Commission (SEC).
The Securities and Exchange Commission ("SEC") announced it had settled charges against State Street Bank and Trust for overbilling mutual funds and other investment company clients by more than $170 million over a 17-year period.
In late March, 2018, the Certified Financial Planner (CFP) Board of Standards announced the unanimous approval of a new Code of Ethics and Standards of Conduct.
This replaces the current Code of Ethics, Rules of Conduct, and Financial Planning Practice Standards and Terminology for all CFP-licensed professionals.
With the passing of every month, the investment industry sees another round of enforcements involving the mishandling of initial coin offerings ("ICOs"). The still nascent landscape of cryptocurrency investing continues to pose significant difficulties for investors, firms, and regulatory...
The proper valuation of client assets is of critical importance for investment advisers. A failure on the part of firms to properly value assets adversely affects key areas of fund operations, including but not limited to: Over or under...
In a speech given in late April, Peter Driscoll, Director of the Office of Compliance Inspections and Examinations (OCIE), discussed the importance of cooperation among compliance officers, senior management, and the OCIE to promote compliance and more effectively protect...
The Securities and Exchange Commission (SEC) announced it had settled charges against Brian Fettner, a Nevada resident, who illegally obtained and later made trades based on sensitive "insider" information he discovered while staying at the residence of a long-time...
The developing market of virtual currencies and online trading continues to present difficulties for the financial investment industry. In late April 2019, the Securities and Exchange Commission (SEC) released an investor alert that advised extreme caution surrounding digital asset...
By: Robert D. Conca, Esq., Partner Throughout any financial professional's career transitions are inevitable and an integral part of the transition is the filing of a Form U5. For those who are unaware, Form U5 is a formal documentation...
- Jury Returns Verdict for SEC in Case Against Broker Charged with Fraudulent Excessive Trading
- SEC Charges Investment Advisor with Defrauding Clients by Failure to Disclose Conflicts of Interest
- Charging Clients Fees Not Disclosed in Form ADV: State Street Settles with SEC for $88 Million
- The CFP's Revised Code of Ethics and Standards of Conduct Takes Effect
- Unregistered ICO: The SEC Brings More Charges
- Deer Creek Management Fined $5 Million for Non-Compliant Valuation of Fund Assets
- Protecting Retail Investors: Thoughts from SEC Director Peter Driscoll, OCIE
- Illegal Trading Based on Insider Information: Nevada Man Charged
- Digital Asset and Cryptocurrency Websites: The SEC Warns of Increase in Fraudulent Activity
- 5 Simple Guidelines for Navigating Form U5
- Securities and Exchange Commission (SEC)
- Investment Advisers
- Advisers Act
- Regulation Best Interest
- Ponzi Scheme
- Aging Clients
- Office of Compliance Inspections and Examinations (OCIE)
- Virtual Currency
- Due Diligence
- Dodd-Frank Act
- Form U5
- Transition Services
- Private Equity
- Private Funds
- Personally Identifiable Information (PII)
- Government Shutdown
- Risk Alert
- Hedge Funds
- Regulatory Examinations
- Securities Law
- Social Media Marketing
- Exchange-Traded Funds (ETFs)
- Investment Company Act
- Policies and Procedures
- Rule 6c
- Broker Protocol
- Wells Fargo