News & Updates

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NASAA Highlights Common Violations by State-Registered Investment Advisors

State securities regulators took significant enforcement actions in 2023, with many cases stemming from breaches of fiduciary duty and failures ...

SEC Fines 11 Firms for Recordkeeping Failures in Off-Channel Communications

The Securities and Exchange Commission (SEC) continues its strict enforcement of recordkeeping requirements, fining 11 firms a combined $88.2 mi...

SEC Charges Inspire Investing with Misleading Investors and Related Comp...

The Securities and Exchange Commission (SEC) recently charged Inspire Investing LLC, an Idaho-based investment adviser, with making misleading s...

Team Breakups Surge Among Financial Advisors Despite Firm Incentives

In recent months, several high-profile departures have highlighted a growing trend: financial advisors are splitting from longtime teams and eve...

FINRA Penalizes Advisor for Falsifying Client Signatures

FINRA has imposed a $7,500 fine and a one-year suspension on Richard Dean Connally.

SEC Charges First Horizon Advisors for Regulation Best Interest Violations

The Securities and Exchange Commission (SEC) has charged First Horizon Advisors, LLC, a registered broker-dealer, with violating Regulation Best...

Macquarie Investment Management to Pay $79.8 Million for Overvalued CMOs...

The U.S. Securities and Exchange Commission (SEC) has charged Macquarie Investment Management Business Trust (MIMBT) with overvaluing collateral...

Merrill Lynch and Harvest Volatility Management Fined $9.3 Million for E...

According to SEC.gov, the Securities and Exchange Commission (SEC) has charged Merrill Lynch, Pierce, Fenner & Smith Inc., and Harv...

Charles Schwab Faces Lawsuit Over Failure to Prevent Elder Fraud in Comp...

A new lawsuit claims that Charles Schwab failed to protect an elderly client from a fraudulent scheme that drained her retirement savings.

Western International Securities Fined Over $1.5 Million for Failing to ...

Western International Securities, a California broker-dealer, has been ordered to pay over $1.5 million for failing to detect churning in 100 cu...

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Hightower Drops Claims Against Former Advisor Amid Non-Compete Dispute

Hightower, a Chicago-based RIA firm, recently dropped its lawsuit against former advisor Lars Knudsen just days before a federal judge in Illino...

Osaic Services Fined $250,000 for Supervisory Failures in Options Trading

Osaic Services, formerly SagePoint Financial, recently agreed to pay a $250,000 fine and accept censure for failures in supervising excessive an...

Wahed Invest Settles SEC Charges Over Undisclosed Endorsements and Ad Ru...

The SEC recently settled charges with Wahed Invest, a faith-based robo-advisor that markets itself to Muslim clients, over violations of the SEC...

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