TCFG's advisory clients paid fee markups as often as 60% of the time in more than 10,000 executed transactions over the course of several years, according to the SEC complaint.
The danger of self-directed IRA scams heightened during the pandemic, as many investors were at home and online but isolated from in-person interaction, NASAA says.
The Public Investors Advocate Bar Association (PIABA) found that 24% of money awarded last year went unpaid; the group argues the problem of unpaid arbitration awards could get even worse in a down market.
The U.S. Chamber of Commerce, SIFMA and other trade groups argue that the temporary enforcement guidance scheduled to end Dec. 20 should be extended for six to 12 months.