Vishal Savla is facing up to 20 years in prison after pleading guilty to wire fraud after he sent clients phony account statements showing large profits, not the heavy losses he was incurring as a result of bad trades.
“Tax stuff is very complicated,” the Dude said.
Although the fiduciary rule is dead, its spirit and intent will live on.
SEC Chairman Jay Clayton is holding roundtable discussions regarding the agency’s best interest proposal.
Cook will serve as president and CEO and join the RIA’s investment committee.