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Consumer Federation of America claims brokerage firms may be violating DOL fiduciary rule
The CFA is calling on regulators to investigate whether brokers are moving clients to higher-cost, fee-based accounts, which it says would be a violation of the DOL rule.
SEC charges California RIA and its owner with account statement fraud
Tweed Investment Services Inc. and owner Robert Russel Tweed were allegedly trying to cover up their inflated investment performance.
SEC chief Jay Clayton tells lawmakers agency is drafting its own fiduciary duty rule
Jay Clayton assures Republican critics of DOL rule that agency's proposal would give investors the option of choosing a broker for investment advice.
Borg puts cybersecurity, unpaid arbitration claims on NASAA agenda
Alabama securities director takes helm of state regulators' association for third time, and at age 64 he might still make time to ride his motorcycle.
Take 5: Tom Giachetti brings humor, insight to regulatory guidance
The regulatory attorney and chairman of the Securities Practice Group gave a typically candid speech about SEC exams at the Raymond James Wealth Managers Conference.
SEC reveals further damage from Edgar hack
The agency said two people's personal data, including dates of birth and Social Security numbers, were stolen, as it continues to investigate the breach.
Ex-broker ordered to pay $550K for bilking investors with modest incomes
SEC obtains default judgment on reckless trading of leveraged ETFs and ETNs, theft from unsophisticated investors.
SEC charges barred broker with masterminding $6 million real estate scam
Leonard Vincent Lombardo, who has been barred from the securities industry by Finra for about 20 years, allegedly defrauded 100 investors.
SEC charges adviser with stealing from clients, committing identity fraud on elderly
New York adviser now living in Egypt, and his operations manager, allegedly bilked seven clients of $378,000.
SEC Chairman Jay Clayton doesn’t intend to pursue third-party RIA exams
Agency forecasts it will inspect at least 14% of registered investment advisers in current fiscal year, up from 10% in recent years, but still below the 50% rate achieved by Finra for B-Ds.
SEC charges three brokers with high-cost unsuitable trading
The regulator alleges the brokers recommended a pattern of high-cost frequent trading without telling clients that such a strategy was unlikely to produce profits.
Lynn Tilton wins SEC fraud trial
An administrative law judge ruled in favor of Ms. Tilton over allegations that she and her firm, Patriarch Partners, bilked investors out of more than $200 million.
SEC’s Clayton says agency is ‘pushing’ toward a fiduciary rule, working with DOL
While Senate hearing focused on recent cyberbreach, SEC chairman highlighted fiduciary duty as 'a priority for me.'
SEC creates cyber unit to eye firms and task force for investor protection
Initiatives aim to combat misconduct by financial firms online and fraud perpetrated against clients.
SEC says Colorado RIA lied about experience and past performance
Michael Moses falsely claimed 24% returns, and lost most of clients' money.
Edgar hack calls dramatic attention to dangers of tech and transparency
The breach adds to a growing list of concerns over the SEC's massive online system.
Hackers may have profited from SEC breach
The hack of the agency's Edgar filing system occurred in 2016, but the regulator didn't conclude until last month that the cybercriminals may have used their bounty to make illicit trades.
SEC hack a result of letting companies practice on Edgar filing system
It lets startups unfamiliar with filling out SEC forms get comfortable with the process. That's how it got hacked.
SEC bars rep sentenced for securities fraud
Gerald Cocuzzo involved in $131 million market manipulation scheme.
SEC bars former rep for alleged share price manipulation
George Thoreson tried to keep penny stock's price high to enable Nasdaq listing.
