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.
The Office of the Comptroller of the Currency provided risk management guidance to banks and federal savings associations concerning high loan-to-value lending programs in communities that are targeted for revitalization.
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.
The SEC announced enforcement actions against twenty-seven individuals and entities in relation to stock promotion schemes, and cautioned investors to be skeptical of information and articles published on investment research websites.
A homebuilding company settled charges that it defrauded investors. The SEC used satellite imagery to determine that the company inflated the number of homes built. The SEC alleged that the company overstated revenue by approximately $3.3 billion.
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.
The Office of the Comptroller of the Currency ("OCC") examined risks facing national banks and federal savings associations. In its Semiannual Risk Perspective for Fall 2016, the OCC concluded that high compliance risk continues for these institutions.