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NASAA Highlights Common Violations by State-Registered Investment Advisors

October 22nd, 2024 at 1:43 PM
State securities regulators took significant enforcement actions in 2023, with many cases stemming from breaches of fiduciary duty and failures to register, according to the North American Securities Administrators Association (NASAA).
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SEC Fines 11 Firms for Recordkeeping Failures in Off-Channel Communications

October 21st, 2024 at 11:44 AM
The Securities and Exchange Commission (SEC) continues its strict enforcement of recordkeeping requirements, fining 11 firms a combined $88.2 million for failing to preserve electronic communications.
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SEC Charges Inspire Investing with Misleading Investors and Related Compliance Failures

October 18th, 2024 at 3:20 PM
The Securities and Exchange Commission (SEC) recently charged Inspire Investing LLC, an Idaho-based investment adviser, with making misleading statements and failing to maintain compliance with its own "biblically responsible investing" strategy.
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Team Breakups Surge Among Financial Advisors Despite Firm Incentives

October 17th, 2024 at 1:28 PM
In recent months, several high-profile departures have highlighted a growing trend: financial advisors are splitting from longtime teams and even family members to pursue opportunities with other firms. 
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FINRA Penalizes Advisor for Falsifying Client Signatures

October 16th, 2024 at 2:44 PM
FINRA has imposed a $7,500 fine and a one-year suspension on Richard Dean Connally.
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SEC Charges First Horizon Advisors for Regulation Best Interest Violations

October 15th, 2024 at 4:09 PM
The Securities and Exchange Commission (SEC) has charged First Horizon Advisors, LLC, a registered broker-dealer, with violating Regulation Best Interest (Reg BI).
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Macquarie Investment Management to Pay $79.8 Million for Overvalued CMOs and Unlawful Cross Trades

October 11th, 2024 at 12:03 PM
The U.S. Securities and Exchange Commission (SEC) has charged Macquarie Investment Management Business Trust (MIMBT) with overvaluing collateralized mortgage obligations (CMOs) and executing unlawful cross-trades that favored certain clients. 
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Merrill Lynch and Harvest Volatility Management Fined $9.3 Million for Exceeding Client Investment Limits

October 10th, 2024 at 3:19 PM
According to SEC.gov, the Securities and Exchange Commission (SEC) has charged Merrill Lynch, Pierce, Fenner & Smith Inc., and Harvest Volatility Management LLC for exceeding clients’ designated investment limits, resulting in higher fees, increased market exposure, and financial losses. 
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Charles Schwab Faces Lawsuit Over Failure to Prevent Elder Fraud in Computer Hack

October 9th, 2024 at 1:26 PM
A new lawsuit claims that Charles Schwab failed to protect an elderly client from a fraudulent scheme that drained her retirement savings.
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ÍøÆØ³Ô¹Ïstern International Securities Fined Over $1.5 Million for Failing to Detect Churning

October 8th, 2024 at 3:45 PM
ÍøÆØ³Ô¹Ïstern International Securities, a California broker-dealer, has been ordered to pay over $1.5 million for failing to detect churning in 100 customer accounts.
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LATEST NEWS AND ARTICLES

1783615970 Law
July 9, 2026
FINRA Suspends Former Branch Manager for Supervisory Failures Linked to Excessive Trading and Churning

A former regional branch manager at a broker-dealer has agreed to Financial Industry Regulatory Authority (FINRA) sanctions after the regulator found that he failed to supervise registered representatives who engaged in excessive trading and churning of customer accounts.

1783525964 Law
July 8, 2026
SEC Sanctions David Lerner Associates for Regulation Best Interest Violations

David Lerner Associates has agreed to settle Securities and Exchange (SEC) charges alleging violations of Regulation Best Interest (Reg BI) that resulted in unnecessary costs to retail investors, according to InvestmentNews.

1783434190 Law
July 7, 2026
Private Credit Funds Face Mounting Redemption Pressure as Investor Sentiment Shifts

A surge in investor redemption requests has intensified pressure on private credit funds, raising concerns about liquidity and long-term stability across the asset class, as reported by The Wall Street Journal.