Law and regulation

The glitch's impact is widespread. Prudential, for instance, says 40 of its more than 60 funds were affected.

Two former advisors allege they were punished and eventually fired for reporting misconduct including trainees and interns entering trades as well as misleading clients during cold calls.

RIAs can be an easy entry point for organizations looking to move dirty money and avoid other financial entities that have formal AML procedures in place, says FinCEN.