In its first-ever enforcement actions against robos, the SEC charged Hedgeable with false performance reporting, false statements, prohibited Twitter testimonials and undisclosed paid promotions.
The Bay State’s securities regulator has been busy this week.
The client won’t see a dime of the $40 million sought in the arbitration against C.L. King & Associates, which went on for 109 hearing sessions.
The individuals charged unlawfully sold more than $350 million of its unregistered securities to 4,400 investors.
An industry trade group warns that some approaches to addressing unpaid arbitration—such as a pool or errors and omissions insurance—will have unintended consequences.
Democratic senators pushed back SEC Chairman Jay Clayton on Reg BI, arguing that the agency should use the same wording as its fiduciary standard for investment advisors.
Chairman Jay Clayton plans to finalize Regulation Best Interest and review the definition of an accredited investor in the coming year.
DOL fiduciary rule architect Phyllis Borzi calls SEC’s proposal Reg BI “a huge step backward” for advisor standards.
Nearly 36 percent of investors who won their arbitration cases in 2017 collected nothing. Here are the firms and advisors that haven’t paid.
As seen through the eyes of a recruiter.
