The firms, ranging from broker/dealers and dual registrants to affiliated investment advisors, include Interactive Brokers, Nuveen Securities and Baird, among others, and are similar to 2022 charges against Wall Street firms resulting in $1.1...
The accusations against five of the firm’s reps arrives several months after FINRA barred the firm from the industry for numerous alleged violations, including against the SEC's Regulation Best Interest rule.
Former broker Megurditch Patatian allegedly recommended 81 purchases totaling more than $7.8 million of the high-risk product over the course of several years, according to regulators.
The TAMP also did not disclose conflicts related to custodial support payments; AssetMark will pay $18 million to settle the charges.
Vista Financial Advisors registered in 2021 and soon claimed it managed more than $11.5 trillion—with a "T"—with no evidence of any legitimate assets at all, according to the commission.
Wellesley Asset Management failed to properly disclose that it used hypothetical performance in advertisements for an index it created, according to the commission.
The SEC fined Goldman Sachs $6 million for sending inaccurate or incomplete trading data and Citadel $7 million for breaking short sales labeling rules and incorrectly marking millions of trade orders.
The SEC voted on Wednesday to impose the most sweeping overhaul for fund-labeling regulations in more than two decades.
Rashawn Russell faces up to 30 years in prison after pleading guilty to his role in a scheme that defrauded nearly 30 investors out of approximately $1.5 million.