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 … Read More
Fraudulent messaging that affects retail investment decisions come in many forms, but the applicable regulatory statutes apply across all circumstances. That includes the use of social media. On August 7, 2018, Elon Musk made the decision to publicly announce on … Read More
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. Des Moines … Read More
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. The NFA (National Futures Association) has released statements, … Read More
Cybersecurity is becoming a greater priority each year for investment firms. Not only is the risk of attack increasing from a growing number of sources, but the level of potential damage to individual firms and the overall market also increases … Read More
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. To be more specific, Hamlin improperly moved tax-exempt municipal … Read More
A broker-dealer’s internal Policies and Procedures for keeping accurate and up-to-date records of compensation, travel, gifts, and entertainment expenditures, including audio files, are an essential part of a firm’s books and records requirements.
Among a variety of other requirements, investment advisers have a fiduciary duty to seek the best available execution for each client’s trades at the most favorable prices possible under current market conditions.
The SEC (Securities and Exchange Commission) Whistleblower Program, created in the wake of the 2008 financial crisis as part of the Dodd-Frank Act, has been nothing short of success (at least, from the standpoint of regulators and whistleblowers). Since its … Read More
Even though the Department of Labor’s (“DOL”) Fiduciary Rule (which was designed to expand the definition of what constituted fiduciary advice as part of the Employee Retirement Income Security Act of 1974 (ERISA)) has been vacated by the 5th U.S. … Read More