SEC

“We all agree a conflict could arise in the future,” Schweiss says. “There are ways of potentially dealing with that.”

The advisor advocate’s’ term, to begin in 2021, also will focus on increasing FPA membership.

The cases allege unsuitable recommendations of LPs issued by affiliates of GPB Capital, which faces multiple investigations.

In a little-noticed rule change, mutual funds no longer disclose their shrinking BD commission load-sharing payments.

He used investor money for his $6.7 million home and $3.1 million for chartering planes and personal travel, according to prosecutors.

The change, the regulator says, will facilitate greater competition and innovation in the ETF marketplace, leading to more choice for investors.

Since this March, almost 100 firms have settled with the regulator for approximately $173 million. Other cases are still pending.

In five bite-sized offerings, Chairman Jay Clayton fails to tell the public what it needs to know about RIAs vs. brokers.

The IBD’s corporate RIA didn’t require about 350 banks to provide clients the terms of its arrangement.

The regulator says it eliminated the need for providers to seek a special order from the agency before funds can be sold to investors.

Under the proposed structure, the funds will conceal a portion of their assets and instead publish a list of securities that’s highly correlated to the performance of the portfolio.

The employee and independent BD collected excess UIT commissions and failed to properly review inactive accounts, the regulator says.

The regulator’s move follows a Financial Planning investigation into whistleblowing by former JPMorgan financial advisor Johnny Burris.

The demands come following a Financial Planning investigation revealing how JPMorgan’s Chase Private Client group used false evidence to get rid of an advisor.

The rule unfairly gives brokers a leg up in the marketplace, harming the network’s 1,000 independent advisors, the firm claims.

They’re grinding forward with changes, even as complicating factors emerge ahead of when the rule takes effect next year.

Elias Herbert Hafen, “every client’s worst nightmare,” could face years in jail. The wirehouse says it is repaying clients.

Even though many of its members weren’t satisfied by the SEC’s rule, NASAA praises the inclusion of a requirement to consider costs in a recommendation.

Following a plea agreement, Bradley Mascho is sentenced for his role in defrauding investors of more than $20 million.

The IBD trade group launched a public campaign after more than 80 cases this year alleging inadequate disclosure of mutual fund fees and compensation.