Advisor Barred for Claiming Fund Was ‘SEC Approved’
“Registration does not mean approval, and the regulators view any suggestion to the contrary as materially misleading,” Cipperman Compliance points out.
SEC to Conduct ‘IT-Related’ Exams of BDs, Advisors
Examiners will take a targeted look this year at “the quality of the technical infrastructure” of firms’ cybersecurity controls.
SEC, FINRA Enforcement: Ex-Barclays Analyst, 3 Others Fined for Insider Trading
Meanwhile, FINRA has fined Bloomberg Tradebook on short sale violations.
Chamber of Commerce Raises Concerns With DOL Fiduciary Redraft
Top execs at U.S. Chamber of Commerce lay out their concerns about new rules affecting prohibited transaction exemptions, rollovers and IRAs.
Bad Guys ‘Winning’ in Cyberattacks
It’s inevitable that cyber breaches will happen, so prevention alone is not enough, FINRA and SIFMA say.
BDs’ Cybersecurity Stronger Than Advisors’: SEC, FINRA Reports
Both the SEC and FINRA will "likely bring enforcement actions if firms’ policies and procedures are found to be deficient,” warns Sutherland's Brian Rubin.
Is There Really an Advisor Exam Problem?
Head scratching continues over what to do about boosting SEC advisor exams — or whether the supposed deficiency is just a political football.
SEC, FINRA Enforcement: Edward Jones Fined for AML Failures
Meanwhile, the SEC fined International Capital Group for selling penny stocks and making stock-based loans without registering as a BD.
FSI Chair Blasts White House Fiduciary Memo as ‘Offensive’
FSI Chairman and Cetera President Antoniades says the memo's "ignorance" is "frankly offensive"; FSI also says it’s fighting FINRA's CARDS plan.
Oppenheimer & Co. Fined $20M Over Penny Stocks, AML Violations
Oppenheimer & Co. agreed Tuesday to pay $10 million to Treasury and $10 million to the SEC for penny-stock related misconduct.