Enforcement

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.

The SEC is giving serious side-eye to firms with part-time or underqualified compliance officers.

Increased captive insurance coverage due to expanded business in 2018 was a primary driver of a three-year high in regulatory spending, the firm says.

Royal Alliance must pay more than $2.5 million to one ex-client while dealing with charges against the firm and a former rep by William Galvin’s office.

New Chairwoman Susan John says the board is preparing for more cases due to its new standards and code of conduct.

The board is calling for public comment on a variety of changes and released FAQs for planners about new standards of conduct taking effect next year.

Investigators say the barred rep diverted more than $1.8 million of her clients’ money for personal use, including on vacations and houses.

FINRA says the firm did not disclose necessary client issues or hacking attempts.

Bari Havlik says she needs to know when examiners’ rulings appear out of step with the actual guidelines.

In my view, the organization puts its own growth ahead of enforcing its certificants’ fiduciary standards. This holds us back from being seen as a true profession.

The agency says the biotech magnate and nine others made $27 million pumping up penny stocks.

In response to a Supreme Court ruling, the regulator will revisit 126 legal proceedings, including nearly two dozen advisor cases.

An advisor kept working with clients, and impersonated others on phone calls with Schwab, the SEC says.

State Treasurer John Chiang says that Wells Fargo is keeping patterns of abuse hidden from view by resolving customer disputes through private arbitration.

The rep helped the customer conceal the true source of funds into his accounts, FINRA claimed.

The broker forged client signatures on annuity withdrawal requests and misled clients into making what they thought were tax payments, the SEC claims.

The broker-dealer failed to supervise Infinex registered reps selling annuities and other products to seniors and other investors at local banks.

The rep mismarked 105 trades in five PNC customer accounts as unsolicited when in fact they were solicited, FINRA claimed.

The rep cut and pasted or traced the signatures of 16 customers on more than 70 life insurance and annuity replacement forms and other documents.

The regulator barred an ex-Wells Fargo advisor for fooling the bank into reimbursing him for $3,400 after he falsely claimed that he was the victim of fraud.