The Practice: Regulatory/legal issues

RIAs Have Little to Worry About as SEC Probes Digital Engagement Practices: Exec

September 27, 2021No Comments

Carson Group director of product strategy Andrew Rogers said registered investment advisor firms typically don’t let clients invest directly without advisor input.

Your Lifeline to Breaking Away: A Compliance Checklist

September 27, 2021No Comments

A lot of preparation goes into launching a business as an independent financial advisor. Here’s a checklist to ensure that you’re ready to open your doors to clients.

Vanguard's Weak ESG Chops Putting Client Money at Risk: Report

September 27, 2021No Comments

Vanguard is ignoring the risk climate change poses to its portfolios, and trillions of client dollars are on the line, a new report claims.

SEC Charges $500M RIA Firm Over Mutual Fund Picks

September 27, 2021No Comments

The firm put investors in generally more expensive mutual funds to avoid paying certain transaction costs, according to the regulator.

FA Ordered to Pay UBS $500K+ Over Promissory Notes

September 27, 2021No Comments

Arbitrators denied Jason Lee Seifert's counterclaims, which included fraudulent inducement, constructive fraud and negligent misrepresentation.

Ex-FA with Dozens of Customer Disputes Charged with Fraud

September 27, 2021No Comments

Michael Shillin, who has 44 disclosures on his BrokerCheck record, allegedly made hundreds of thousands of dollars from a variety of schemes involving his clients.

Ex-Morgan Stanley FA Loses $4.3M Wrongful Termination Claim

September 27, 2021No Comments

Robert Patrick McCabe, Jr. claimed that he was wrongfully terminated and owed deferred compensation as well as millions in lost earnings and reputation damage.

So You've Vetted Your Tech Vendor. Do it Again. And Again

September 24, 2021No Comments

Emails and file sharing are potentially the biggest cyber vulnerabilities of many firms, according to one executive.

Industry Lobbyists Urge More Time on DOL’s Fiduciary Rule

September 24, 2021No Comments

Sifma, the U.S. Chamber of Commerce and others want an extension of a temporary enforcement policy on exemptions.

State Securities Examiners Find Holes in Firms’ Protection of Seniors

September 23, 2021No Comments

The North American Securities Administrators Association says close to 60% of state-registered investment advisor firms don’t have the proper policies and procedures for preventing the financial exploitation of seniors.