The firm has argued that a demand for emails and other records by the agency earlier this year was unduly burdensome.

Experts say these loans deserve a second look, partly because of a series of federal reforms in recent years.

By allowing disciplinary actions to be expunged from certificants’ records, the board is sabotaging its own efforts to raise industry standards.

The fees affected hundreds of thousands of customers and the total cost could climb to more than $180 million, according to a report in The Wall Street Journal.

The court said the in-house SEC judge who handled Raymond Lucia’s case was a constitutional "officer," meaning he should have been directly appointed by the SEC.

Complaints lodged against the firm through Dec. 15 dropped 18% from the same period of 2016, federal figures show.

Attorneys are preparing written objections to the settlement, which they may file in the next 15 to 30 days.

The door has closed for public comments on the board’s propositions. While some industry heavyweights commended them, critics call out contradictions.

Regulations can take a long time to reverse.

New standards for advisors cover digital advice, third-party relationships and expand fiduciary duty obligations.