The SEC charged an investment advisory firm and two of its investment advisers with violating their fiduciary duty and defrauding clients by failing to disclose significant financial conflicts of interest.
A federal court ordered a former CEO of an investment firm to pay over $13 million in disgorgement and penalties for violating federal securities laws in relation to allegations that he misled investors about the performance of an investment strategy.
A U.S. broker-dealer agreed to pay restitution to settle FINRA charges of making unsuitable recommendations in connection with volatility-linked exchange-traded products. FINRA reminded firms of sales practice obligations for such products.
The SEC charged an investment advisory firm with several violations of the Investor Advisors Act for defrauding and misleading investors about the performance track record of a branded investment strategy.
During a "Senior$afe Training Week," the North American Securities Administrators Association will offer a program to prepare state regulators to teach broker-dealers and investment advisers how to identify signs of the financial abuse of seniors.
Morgan Stanley Smith Barney, LLC agreed to pay an $8 million penalty to settle SEC charges alleging that the firm, which was dually registered as an investment advisor and broker-dealer, had failed to implement written compliance policies and procedures.