Episode 52: Fiduciary Duty
On episode 52, we talk about the SEC’s issued interpretive guidance on an adviser’s standard of conduct, as mandated under the Investment Advisers Act of 1940.
SEC Approves Four-Part Rules Package
On June 5, 2019, the Securities and Exchange Commission (SEC) approved a four-part investment advice reform package containing new rules that govern conduct, forms, and interpretations for investment advisers and broker-dealers.
Improper Billing Practices Draw SEC Fraud Charges
“An adviser that fails to adhere to the terms of these agreements and disclosures, or otherwise engages in inappropriate fee billing and expense practices, may violate the Investment Advisers Act of 1940, and the rules promulgated thereunder, including the antifraud … Read More
The Town of Oyster Bay Settles SEC Fraud Charges
In early June, the town of Oyster Bay New York settled 2017 charges issued by the Securities and Exchange Commission (SEC) that it committed fraud related to Municipal Bond Securities it sold investors while failing to disclose the nature and … Read More
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.
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.
Best Execution Considerations for Investment Advisers
Every registered investment adviser has a fiduciary duty to seek best execution when placing transactions for clients. In addition to seeking best execution, the Securities and Exchange Commission (“SEC”) has issued a variety of guidance stating that advisory firms must … Read More
Improper Disclosure: BB&T to Return $5+ Million to Retail Investors and Pay Penalty
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.
Episode 41: Best Practices Regarding the SEC’s Share Class Selection Disclosure Initiative
We discuss disclosures and the SEC’s Share Class Selection Disclosure Initiative. Some news out of the SEC recently and we thought we’d share some tips and best practices that can be applied to firms as they complete their Form ADVs requirements.
Wolters Kluwer – Common Compliance Violations Seen in 2018
Our CEO Michelle Jacko’s article, “Legal Risk Management Tip: Common Compliance Violations Seen in 2018,” was featured in the January/February 2019 edition of Wolters Kluwer’s Practical Compliance Risk Management for the Securities Industry.