The Office of Compliance Inspections and Examinations (OCIE) released a risk alert outlining findings of examinations it conducted as part of its Supervision Initiative...
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.
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...
Deloitte Touche Tohmatsu LLC, commonly referred to as Deloitte Japan, has agreed to pay $2 million in settlement charges to the Securities and Exchange Commission ("SEC") for violating the SEC's auditor independence rules. According to the SEC, Deloitte Japan...
Dale Cebert was managing over $400 million when Morgan Stanley terminated his employment for failure to disclose his outside business activities. Being terminated is always a serious matter any investment professional, but allegations were also added to his public...
Indianapolis-based Steele Financial Inc. and the advisory firm's owner, Tamara Steele, have both been charged by the Securities and Exchange Commission (SEC) with failure to disclose sales commissions of up to 18% charged on approximately $13 million of high-risk...
- Investment Adviser Wearing Multiple Hats Charged by SEC for Defrauding Clients
- Charging Fees for Inactive Accounts can be as Problematic as Churning
- SEC: Prudential Failed to Disclose Conflicts of Interest to Fund Boards
- SEC Charges Investment Bank Junior Analyst with Insider Trading
- SEC Files Charges in Fraudulent Token Manipulation Scheme
- OCIE Risk Alert: Guidance for Compliance, Supervisory and Disclosure Procedures
- 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
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