Antonia Chion spent 32 years with the SEC, and most recently helped supervise a settlement with Wells Fargo Clearing Services and Wells Fargo Advisors Financial Network that included a $35 million penalty.
With uncertainty around how custodians will service smaller advisors going forward, shuttering the RIA and affiliating with a larger platform seems to be a better option for many sub-$150 million advisors.
The commission said Wells Fargo failed to properly train and oversee brokers and advisors who didn't understand the ETF was not designed for long-term buy-and-hold investors.
The proposed regulation follows the National Association of Insurance Commissioners' vote approving a model regulation for states to emulate.
The SEC charged advisor Dionne Van Zyl with using his senior status in an Atlanta church to con fellow church members.
The famous actor touted an initial coin offering from Bitcoiin2Gen in social media postings without telling followers that he was being compensated for his endorsement, according to the SEC.
Former Fidelity executive Matthew Chisholm joins to help lead its RIA division.
Human judgment and insight are vital to appreciating and communicating the nuances around sustainability.