Enforcement

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.

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.