Enforcement

The firm’s use of third-party compliance vendors came under scrutiny after an ex-rep pleaded guilty to bilking clients out of $5 million.

The popular trading app omitted information about its payment for order flow practice, the regulator says.

A group of 25 Democrats in the House wrote to congressional leaders asking them to provide $12.1 billion in funding for the Internal Revenue Service, including $5.2 billion for enforcement, with an eye toward cracking down on high-income tax cheats.

The Office of the Comptroller of the Currency says JPMorgan Chase’s fiduciary unit lacked sufficient controls to manage risk and avoid conflicts of interest.

Five firms agreed to pay $3 million to settle an SEC investigation into unsuitable sales of complex exchange-traded products.

The former J.W. Cole advisor’s practice allegedly sold more than $40 million worth of unsuitable and unregistered promissory notes.

The advisor allegedly carried out a 20-year scheme defrauding at least 15 clients through forgery and misrepresentations.

The advisor allegedly used an omnibus trading account to help himself and hurt his clients to the tune of tens of thousands of dollars, according to the regulator.

Director tenures, nominations and committees are changing after an independent task force identified weaknesses.

Actions hit a nine-year high and restitution climbed to the highest total since 2013 — even before the rule’s heightened scrutiny.

The firm’s National Financial Services allegedly failed to deliver certain basic information to clients in five public offerings of shares in a fuel cell technology company.

The advisor sold securities out of one account to buy a Camaro ZL1 — then resold the car to the same victim, the regulator alleges.

The firm will also pay a penalty and offer to buy back variable annuities the former broker sold to 21 other investors.

The price hikes would come as early as 2022, and follow a budget deficit in 2019.

SagePoint Financial failed to adequately supervise reps who recommended that clients exchange the products before maturity, the regulator says.

The change is one of several made to the board’s disciplinary reporting process following a report by an independent task force that found “systemic, long-standing, governance-level weaknesses.”

A task force will issue recommendations to shore up the disciplinary process ahead of the board's November meeting. Here’s what advisors need to know.

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

NASAA’s annual survey of regulators sheds light on legal proceedings against BDs, RIAs and unregistered firms that often go unnoticed in the wider industry.

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