SEC

The regulator's court victory wraps up years of litigation against a financial planner accused of defrauding at least nine clients of more than $1 million.

The plaintiffs plan to argue the current system deprives them of their right to a jury trial in cases involving securities allegations.

The widely varying disclosures at some of the largest companies display how the common brokerage industry conflict of interest generates a fortune for them each year.

The principals at Legend Venture Partners stand accused of making millions by offering shares in pre-IPO companies without disclosing markups to investors.

More than 60% of registered investment advisory firms force complaints into forums that cost more and may give them fewer rights than FINRA, the regulator said.

The panel's recommendation would also seek comments on the possibility of outsourcing some review functions to third-party firms.

The Investment Adviser Association contends federal regulators have not taken into account the likely onerous cumulative effects of their proposals on cybersecurity, outsourcing and data security.

INVEST 2023 panelists and the latest SEC risk alert suggest the regulator will treat the rule much like one that has cost big Wall Street firms more than $2 billion in fines.

SEC Chair Gary Gensler is worried about conflicts of interest in investment advice.

The former advisor faces as many as 10 years in prison for stealing roughly $1.7 million from relatives' brokerage accounts to pay for trips, cruises and other personal expenses.