Core Compliance Blog Spotlight

Failure to Supervise Third Parties: AXA Advisors, LLC Sanctioned by FINRA

In early May, the Financial Industry Regulatory Authority (FINRA) announced fines levied against AXA Advisors, LLC (AXA), a company that sells and services group annuity contracts for employer-sponsored 401(k) retirement plans through an affiliated life insurance company. Read More
Core Compliance Blog Spotlight

Social Sentiment Investing Tools: SEC Issues Investor Bulletin

Apart from the traditional sources of information investors use to gather information about their own investment decisions, such as analyst estimates, news stories, and other indicators of market volatility, investors lately have been utilizing social sentiment tools. Read More

Proposed Amendments to the Safeguards and Privacy Rules: FTC Seeks Comment

May 20, 2019

The Federal Trade Commission (FTC) has voted to propose alterations to two rules governing the protection of privacy and security of customer information in possession of financial institutions, the Safeguards Rule and the Privacy Rule under the Gramm-Leach-Bliley Act, specifically.

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Flouting Compliance: Ascension Asset Management, LLC and Grenville M. Gooder, Jr.

May 16, 2019

On March 7, 2019 the Securities and Exchange Commission (SEC) filed a cease-and-desist order against Ascension Asset Management and its sole proprietor, Grenville M. Gooder, Jr. for numerous violations related to:

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Non-DVP Custodial Practices and Digital Assets: Your Input Requested

May 15, 2019

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Formation and Sale of “Blank Check” Companies: SEC Brings Fraud Charges

April 23, 2019

In late February charges of fraud by the SEC against broker-dealer Spartan Securities Group, Ltd. and transfer agent Island Capital Management, LLC are the latest in a series of SEC enforcement actions against parties engaged in the formation and trading of “blank check” companies.

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Improper Disclosure: BB&T to Return $5+ Million to Retail Investors and Pay Penalty

April 19, 2019

BB&T Securities, a brokerage subsidiary of BB&T Corp., has settled with the Securities and Exchange Commission (SEC) over charges that a firm it had acquired misled clients and overcharged them for advisory services.

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Non-Public Form N-PORT: Changes to Filing Date

April 17, 2019

Keeping up with the latest changes to filing requirements is a critical element of compliance at any firm.

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The CFTC Division of Market Oversight Compliance Branch Releases Inaugural Examination Priorities

March 14, 2019

On February 12, 2019, the Commodity Futures Trading Commission (CFTC) released its inaugural examination priorities for its Division of Market Oversight (DMO) Compliance Branch, the Division of Swap Dealer & Intermediary Oversight (DSIO), and the Division of Clearing & Risk (DCR).

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UPDATE: 2016 EDGAR Hacking Case - SEC Brings Charges

March 12, 2019

Even powerful entities like the U.S. government’s Securities and Exchange Commission (SEC) and major news agencies are not impervious to cyberattacks, despite the significant resources they dedicate to defending the valuable information they are responsible for.

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