Tagged with "enforcement activity"

CFP Board Announces Dramatic Increase in Enforcement Activity

Posted on June 26th, 2020 at 3:41 PM
CFP Board Announces Dramatic Increase in Enforcement Activity

The CFP Board announced a wide array of new enforcement activities, which includes spending $5 million to conduct background checks on all CFP professionals.  This move comes after a task force found “significant failures in the execution of the CFP Board’s enforcement program[.]” Additionally, a July 2019 story in The Wall Street Journal detailed how the CFP Board website failed to inform users about past disciplinary issues for CFP professionals.  The Wall Street Journal found that more than 5,000 advisors who were listed on the CFP Board website as having a clean disciplinary record actually had a disciplinary history. 

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September 22, 2023
State Regulators Maintain Opposition to FINRA's Remote Supervision Pilot Program

The North American Securities Administrators Association (NASAA) and the Public Investor Advocate Bar Association (PIABA) has consistently opposed the Financial Industry Regulatory Authority's (FINRA) proposal for a voluntary three-year pilot program for remote inspections.

September 21, 2023
SEC Charges Private Equity Firm Over Fee Disclosure Failures to Affiliate

The Securities and Exchange Commission (SEC) has charged Prime Group Holdings LLC, a private equity firm specializing in alternative real estate asset investments, with
inadequate disclosure of millions of dollars in real estate brokerage fees paid to a brokerage firm owned by its CEO.

September 20, 2023
SEC Orders Legendary Capital Founder and REIT Advisors to Pay Nearly $5 Million

Corey Maple, co-founder of non-traded REIT sponsor Legendary Capital, has agreed to a $100,000 civil penalty to settle charges brought by the Securities and Exchange Commission (SEC).