The SEC claimed that Hughe Duwayne Graham, Donald Lee Howard and Larry Louis Matyas collectively made more than $920,000 in commissions for soliciting investors about purchasing stock in U.S. Lighting Group.
Speaking at the custodians' conference, the panel said a divided Congress would likely mean a diminished COVID-19 stimulus as well as a more difficult road for President-elect Joe Biden's tax policies.
Finance executives will be closely watching how Biden handles the coming internal Democratic fight between centrists and progressives that threatens to increase regulation and dent profits.
The latest report from Backend Benchmarking found that some digital advice firms, including Wealthsimple and M1 Finance, actually improved their performance and funding during COVID-19.
The COVID-19 pandemic has only accelerated the trend of the need for digital engagement between wholesalers and financial advisors, according to a J.D. Power study.
If Joe Biden is the winner of Tuesday's election, a Republican Senate could make it more difficult to overturn Trump-era regulations and enact the Biden agenda that would most impact financial advisors.
