Core Compliance Blog Spotlight
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 MoreCharles 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...
Read MoreSEC 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.
Read MoreSummary 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).
Read MoreWhy 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.
Read MoreSEC 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...
Read MoreStrategic 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...
Read MoreHefren 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...
Read MoreFirm’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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