Tagged with "SEC"

5 First-of-Their-Kind SEC Enforcement Actions Announced

Posted on October 20th, 2021 at 1:19 PM
5 First-of-Their-Kind SEC Enforcement Actions Announced

Securities and Exchange Commission (SEC) Enforcement Director Gurbir Grewal recently discussed notable first-of-their-kind enforcement actions that his division has pursued.

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SEC’s Statement on Complex Exchange-Traded Products

Posted on October 18th, 2021 at 1:09 PM
SEC’s Statement on Complex Exchange-Traded Products

The Securities and Exchange Commission (SEC) recently voted to approve a pair of rule changes proposed by Cboe BZX Exchange, Inc. to list and trade shares of new exchange traded-products: the 2x Long VIX Futures ETC and the -1x Short VIX Futures ETF.

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SEC Freezes Assets and Halts Alleged Fraudulent Scheme By Ron Harrison

Posted on October 13th, 2021 at 1:01 PM
SEC Freezes Assets and Halts Alleged Fraudulent Scheme By Ron Harrison

The Securities and Exchange Commission (SEC) has obtained an emergency court order freezing the assets of Ron Harrison, who allegedly operated an ongoing fraudulent scheme.

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SEC Charges Investment Advisor, Affiliated Broker-Dealer and CEO Over False and Misleading Statements

Posted on October 8th, 2021 at 12:49 PM
SEC Charges Investment Advisor, Affiliated Broker-Dealer and CEO Over False and Misleading Statements

The Securities and Exchange Commission (SEC) has charged Laguna Niguel, TCFG Investment Advisors, TCFG’s affiliated broker-dealer TCFG Wealth Management, and CEO Richard Roberts with making false and misleading statements regarding fee markups to their clients.

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SEC Bars New Jersey Advisor Over “Cherry-Picking” Scheme

Posted on October 1st, 2021 at 12:26 PM
SEC Bars New Jersey Advisor Over “Cherry-Picking” Scheme

The Securities and Exchange Commission (SEC) has barred a New Jersey-based advisor from the industry for allegedly operating a fraudulent “cherry-picking” scheme.

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SEC Files Suit Against Wisconsin Advisor For Allegedly Defrauding Clients

Posted on September 24th, 2021 at 12:43 PM
SEC Files Suit Against Wisconsin Advisor For Allegedly Defrauding Clients

The Securities and Exchange Commission (SEC) has charged Michael Shillin for allegedly defrauding nearly 100 clients, including several elderly clients.

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SEC Continues to Penalize Firms Over Conflicts Related to Fund Fees

Posted on September 22nd, 2021 at 1:48 PM
SEC Continues to Penalize Firms Over Conflicts Related to Fund Fees

The Securities and Exchange Commission (SEC) is continuing its crackdown on numerous investment advisors that fail to disclose conflicts related to fund fees.

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SEC Charges Minnesota Couple Over $17.6 Million Ponzi Scheme

Posted on September 10th, 2021 at 12:42 PM
SEC Charges Minnesota Couple Over $17.6 Million Ponzi Scheme

The Securities and Exchange Commission (SEC) has obtained a temporary restraining order (TRO) and asset freeze against a Minnesota couple who allegedly operated a Ponzi scheme for nearly a decade, which impacted at least 200 investors and raised almost $18 million.

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SEC Obtains Emergency Relief and Files Suit Over Alleged $18 Million Ponzi Scheme

Posted on September 9th, 2021 at 1:35 PM
SEC Obtains Emergency Relief and Files Suit Over Alleged $18 Million Ponzi Scheme

The Securities and Exchange Commission (SEC) reported that it has obtained a temporary restraining order (TRO) as well as an asset freeze against Bullard Enterprises LLC and its owners, Jason Bullard and Angela Romero-Bullard.

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Connecticut Adopts ‘Best Interest’ Rule for Annuities

Posted on September 1st, 2021 at 12:23 PM
Connecticut Adopts ‘Best Interest’ Rule for Annuities

Connecticut has become the 16th state to approve legislation governing the sales of annuity products based on a model rule designed by the National Association for Insurance Commissioners (NAIC).

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LATEST NEWS AND ARTICLES

October 27, 2021
Former LPL Advisor Suspended For Completing 22 Trades Absent Client Consent

The Financial Industry Regulatory Authority (FINRA) has suspended and fined a former LPL advisor who allegedly completed 22 trades on behalf of a client without obtaining written consent. FINRA has issued a $5,000 fine and has suspended Michael Hartlett for 10 days.

October 26, 2021
Former Advisor Fails To Reverse Bar After Alleged $1 Million Theft From RBC

A former RBC Wealth Management advisor lost his bid to reverse an industry bar, according to an appellate decision issued by the Financial Industry Regulatory Authority (FINRA).

October 25, 2021
Firms Walk Thin Regulatory Line In Referring Self-Directed Clients To Advisors

While online trading platforms have surged in popularity during the pandemic, brokerage firms view self-directed investors as a source of new clients.