Core Compliance Blog Spotlight

Disclosure Improvements Proposed by SEC for Variable Annuities and Variable Life Insurance Contracts

In an Oct. 30, 2018, press release, the Securities and Exchange Commission (SEC) has announced that a proposal for updated disclosure agreements involving the complicated arena of variable annuities and variable life insurance contracts has been approved for public comment. Read More
Core Compliance Blog Spotlight

FTC Develops Cybersecurity Education Program

Cyberattacks pose a very real threat to all modern businesses, from massive corporate conglomerates to smaller local establishments, causing ever greater financial losses and increased headache each year for all who are affected. Read More

Fraudulent Claims of SEC Approval in Marketing Cryptocurrency Trading

December 11, 2018

As the awareness and popularity of cryptocurrencies increase, so do the instances of fraud and dishonest behavior associated with their trade, which is evidenced by the recent Securities and Exchange Commission (SEC) Investor Alert on the subject.

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SEC Charges Two Brokers with Defrauding Customers

November 15, 2018

In separate complaints, the Securities and Exchange Commission has charged two brokers, Emil Botvinnik of Florida and Jovannie Aquino of New York, with recommending excessive levels of short-term trades that appear to have generated lucrative commissions for the brokers, but were almost certain...

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Fraud and Failure of Oversight: Elon Musk and Tesla Motors Settle SEC Charges

November 14, 2018

Fraudulent messaging that affects retail investment decisions comes in many forms, but the applicable regulatory statutes apply across all circumstances.

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The Red Flags Rule: SEC Charges Voya Financial Advisors Inc. With Deficient Cybersecurity Procedures

November 12, 2018

In the first case of its kind, charges have been filed against a firm for failure to meet the standards of identity theft the Red Flags Rule, which sets standards for the protection of customers against identity theft.

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Virtual Currency Trading Risk — NFA Sets New Disclosure Requirements

October 16, 2018

The promise of lucrative and rapid profits in virtual currency trading, including its derivatives, has attracted a high number of investors who may not understand the unique and potentially significant risks involved.

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Cybersecurity Risks: OCIE and SEC Enforcement Division Focus Continues

October 09, 2018

Cybersecurity is becoming a greater priority each year for investment firms. Not only is the risk of attack increasing from a growing number sources, but the level of potential damage to individual firms and the overall market also increases with each passing year.

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Hamlin Capital Management, LLC — Cease-and-Desist Order and Remedial Sanctions Levied by SEC

October 04, 2018

Hamlin Capital Management, LLC, a New-York-based investment adviser, has been charged by the Securities and Exchange Commission (SEC) with violations concerning cross trading activity that favored particular client accounts over others.

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Keeping Accurate Books? — SEC Charges BGC Financial for Failure to Preserve Critical Records

September 17, 2018

A broker-dealer’s internal Policies and Procedures for keeping accurate and up-to-date records of compensation, travel, and gifts and entertainment expenditures, including audio files, are an essential part of a firm’s books and records requirements.

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