SEC

Commission staffers are probing how broker-dealers are handling ETFs and the extent to which investors understand the risks of the funds.

The new rules were developed in consultation with the SEC, the Labor secretary adds.

The Massachusetts-based planner, who allegedly told clients their money would be invested in a hedge fund, was also ordered to pay $1.89 million to victims.

Louis Martin Blazer III allegedly stole $2.35M from clients through his concierge firm Blazer Capital Management.