Updated Thursday, April 24, 2014 as of 6:02 PM ET
Industry - RIAs
SEC Punishes RIA for Cherry-Picking Scheme Involving Improper Day Trades
by: Kenneth Corbin
Wednesday, August 29, 2012

The Securities and Exchange Commission is taking administrative action against an investment advisor alleged to have engaged in a so-called "cherry-picking" scheme that funneled gains from day trades in an omnibus account into the advisor's personal and business accounts, while saddling clients with the losses from the trades that went sour.

Get access to this article and thousands more...

All Financial Planning articles are archived after 7 days. REGISTER NOW for unlimited access to all recently archived articles, as well as thousands of searchable stories. Registered Members also gain access to exclusive industry white paper downloads, web seminars, blog discussions, the iPad App, CE Exams, and conference discounts. Qualified members may also choose to receive our free monthly magazine and any of our daily or weekly e-newsletters covering the latest breaking news, opinions from industry leaders, developing trends and growth strategies.

Already Registered?

Advisors on the Move: Cambridge Snags $500 Million Team

Current Issue

The April Issue is now online!

Already a subscriber? Log in here