Firm Pays $12 Million Fiduciary Obligation Violation
Earlier this week, the Securities and Exchange Commission (“SEC”) filed an enforcement action against BlackRock Advisors LLC for failing to fulfill its fiduciary duty. According to the SEC order, while managing energy-related funds at BlackRock, Daniel J. Rice III … Read More
OCIE Announces New Acting Director
Last week, the U.S. Securities and Exchange Commission (“SEC”) announced that Marc Wyatt will succeed Andrew Bowden as the Acting Director of the Office of Compliance Inspections and Examinations (“OCIE”). Although Wyatt has been with the SEC since 2012, for … Read More
SEC Chair Speaks In DC
Over the past few years, the Securities and Exchange Commission (“SEC”) has made it very clear that bringing enforcement actions for misconduct remains one of its top priorities. In 2014, the SEC reported having charged 80 people in cases involving … Read More
Ponzi Scheme Seduces Investors for $3.8 Million
A Colorado-based pyramid and Ponzi scheme that boasts returns of 700 percent has been charged with fraud by the U. S. Securities and Exchange Commission (“SEC”). Since April 2014, Kristin Johnson and Troy Barnes who operated under “The Achieve Community,” … Read More
Core Compliance’s Latest RMU: Valuation – What Investment Advisers Should Know
Last month, Core Compliance & Legal Services, Inc. (“Core Compliance”) published its monthly Risk Management Update (“RMU”), written by Managing Director, Consultation Services, Tina Mitchell. Ms. Mitchell’s RMU, titled Valuation – What Investment Advisers Should Know, provides an overview of … Read More
Cybersecurity Examination Sweep Summary
This week the Office of Compliance Inspections and Examinations (“OCIE”) released its latest Risk Alert: Cybersecurity Examination Sweep Summary. A focused examination of over 100 registered broker-dealers and advisers was conducted to “better understand how broker-dealers and advisers address … Read More
