SEC Slaps 3 Advisors for Custody Violations
The SEC on Monday sanctioned three SEC-registered advisory firms for violating the custody rule.
NASAA’s Advocacy Agenda: Advisor Regulation, Fiduciary Duty, Arbitration
Our agenda calls for Congress to ensure all investors are protected when receiving individualized investment advice. This revolves around two key issues.
SEC Names Acting, Deputy Directors of Enforcement
The SEC announced Thursday that George Canellos has been named acting director, and that David Bergers, director of the SEC’s Boston Regional Office, has been named acting deputy director.
SEC Enforcement Roundup: Hedge Fund Manager Fined $44 Million in China Scheme
Among recent enforcement actions taken by the SEC were charges against a Miami-based entrepreneur for defrauding investors.
SEC, FINRA Enforcement Roundup: Insider Trading Ring Busted; Raymond James Hit
Among recent actions taken by the SEC and FINRA were the breakup of an insider trading ring; Raymond James getting fined and censured; and proceedings over securities law violations by the Big Four accounting firms' China affiliates.
SEC, FINRA Enforcement Roundup: Bristol-Myers Squibb Exec Charged
There was an international flavor to some of the recent actions taken by the SEC and FINRA, including freezing $38 million in assets in an international insider trading case and charges involving a Chinese reverse merger company.
The Penalty Box: Would Stiffer SEC Fines Make Evildoers Think Twice?
An upcoming bill would raise the penalties the SEC can impose on financial ne'er-do-wells. Maybe Congress’ time would be better spent increasing the likelihood that the SEC will catch anyone—by, oh, I don’t know, maybe increasing their funding?
Exclusive: Biggest SEC Enforcement Effort Is Advisor Misconduct
In exclusive interview, former SEC enforcement official Kaplan says agency had doubled actions against advisors to investment vehicles, especially private funds, with more scrutiny to come.
SEC Enforcement Roundup: Former SEC Official Barred for Ties to Stanford
Conflict of interest charges against a former SEC official and charges of deceiving investors against a Miami-based hedge fund advisor were among the enforcement actions taken recently by the SEC.
Agency and Principal Transactions
In passing Section 206(3) of the Investment Advisers Act, Congress recognized that principal and agency transactions can be harmful to clients. Such transactions create the opportunity for RIAs to engage in self-dealing.