Enforcement Roundup: Investors Win $900,000 in FINRA Arb Over Nontraded REITs
In other enforcement news, FINRA fined Barclays over electronic record storage and Instinet felt the SEC's wrath for improper soft-dollar payments.
SEC’s White: ‘Unnoticed’ Enforcement Actions Can Have Big Impact
While CEO takedowns score big headlines, SEC chief Mary Jo White says, "literally thousands" of unsung cases are no less meaningful to keeping markets functional.
Ponzi Schemer Blames Mysterious One-Eyed Man; Uses Profits to Give Prostitutes a ‘Better Life’
The SEC on Thursday charged a purported money manager and two of his chief marketers with defrauding investors in a fake company. Nearly $1 million of the money they siphoned from investors was given to three Las Vegas call girls.
New Hire Roundup: FINRA Adds Three; Eichmann Goes to TheStreet
This week in new hires, FINRA added three new governors; Erwin Eichmann joined TheStreet as general counsel; and Putnam Investments named Darren Jaroch portfolio manager of another fund.
DOL Enforcement Roundup: Two Accused of Misusing Pension Funds
The director of an Illinois-based investment management firm was ordered to restore $1.2 million to four pension plan client accounts, while an advisor was accused of misusing $3.2 million in retirement plan funds.
SEC Charges UBS Arm With Improper Mutual Fund Pricing
The SEC on Tuesday charged an investment advisory arm of UBS with failing to properly price securities in three mutual funds that it managed, which resulted in a misstatement to investors of the net asset values of those funds.
Do’s and Don’ts of Advisory Contracts
In preparation for a compliance exam, securities regulators typically will ask to see copies of an RIAs advisory agreements. An RIA must be able to produce requested contracts and the contracts must comply with applicable SEC or state rules.