The charges come as investment advisors increasingly use ESG metrics to appeal to investors, according to SEC Enforcement Division Deputy Director Sanjay Wadhwa.

Casey Franz replaces Kabir Sethi as its new head of platforms and capabilities.

President Melanie Senter Lubin said the rule would offer state regulators additional means to take action against registrants that don't pay up.

SEC Enforcement Division Director Gurbir S. Grewal said the enforcement action indicated that 'AML obligations are sacrosanct' for registrants.

With years of experience serving smaller RIAs, Eugene DeRango will lead sales and client acquisition efforts at Axos Advisor Services.

Concurrent Advisors appears on track to exceed rapid 2021 growth.

The SEC claims the RIA violated its fiduciary duty when it did not inform clients about the conflicts related to revenue-sharing agreements and must return funds to affected investors.