Enforcement

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.