Core Compliance Blog Spotlight

Orion’s Eric Clarke Examines Issues Facing RIAs in Financial Planning’s Lightning Round

Eric Clarke, chief executive officer for Orion Advisor Solutions (Orion), was interviewed for Financial Planning’s Lightning Round. In the interview, Clarke describes the greatest threat to independent advisors as changes in the regulatory landscape. Read More
Core Compliance Blog Spotlight

SEC Publishes Frequently Asked Questions on Form CRS

As the first filing deadline for the Securities and Exchange Commission’s (“SEC”) new Form CRS is approaching on June 30, 2020, the SEC Division of Investment Management and Division of Trading and Markets have published a frequently asked questions document in response to inquiries they have... Read More

Charles Schwab Corp. to Purchase TD Ameritrade for $26 billion

January 07, 2020

Charles Schwab Corp. announced it has agreed to purchase TD Ameritrade Holding Corp. for $26 billion in an all-stock transaction, combining two of the largest custody service providers to independent financial advisers.

After the merger, the combined firm will have assets in excess of $5...

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SEC Charges 18 in Elaborate $31 Million Stock Manipulation Scheme

December 10, 2019

On October 16, 2019, The Securities and Exchange Commission filed an emergency action and obtained an asset freeze against 18 traders in a multiyear scheme to manipulate more than 3,900 U.S.-listed securities that resulted in more than $31 million in illicit profits.

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Summary of Requirements for the SEC’s New Form CRS

December 05, 2019

Compliance officers at investment advisory firms which serve retail clients will soon be impacted by the newly required relationship summary in Form ADV Part 3 (Form CRS).

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Why the SEC’s Scrutiny of Digital Assets Creates Opportunity for Financial Advisers

December 03, 2019

On October 11, 2019, the Securities and Exchange Commission announced it had filed an emergency action against two offshore entities for conducting an alleged unregistered and ongoing digital token offering in the U.S. and overseas that has raised more than $1.7 billion in investor funds.

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SEC Proposes Amendments to OTC Securities Quotations

November 15, 2019

Over the past several years, The Securities and Exchange Commission (“SEC”) has brought hundreds of enforcement actions over violations of federal securities involving over-the-counter (OTC) securities, resulting in tens of millions in harm to retail investors. In an effort to increase retail...

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SEC Charges Investment Advisers for Failing to Disclose Conflicts of Interest

November 12, 2019

Strategic Planning Group (“SPG”) agreed to settle charges with The Securities and Exchange Commission (“SEC”) for failing to disclose a conflict of interest by consenting to a cease-and-desist order, censure, and civil penalties of $200,000. Its principals, David A. Rourke and Jarrod A. Sherman...

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Hefren Tillotson, Inc. Settles Charges of Undisclosed Compensation

November 05, 2019

Registered investment adviser and broker-dealer Hefren-Tillotson, Inc. agreed to settle charges from the Securities and Exchange Commission (“SEC”) for undisclosed compensation it received from its unaffiliated clearing broker. The firm will pay disgorgement of $254,060, prejudgment interest of...

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Firm’s Willful Lack of Disclosure to Investors Results in $5.5M Fine

October 21, 2019

On Monday, September 16, 2019, the Securities and Exchange Commission settled charges against Marvell Technology Group for misleading investors when it engaged in an undisclosed revenue management scheme in order to meet publicly issued revenue guidance.

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