Regulation and Compliance issues for Wealth Professionals can be challenging to navigate especially when the SEC is involved. Catch the latest news and analysis on compliance updates that impact financial advisors.
In a new risk alert, SEC examiners stressed that firms have appropriate staffing to comply with AML regulations, especially after the wave of sanctions following Russia’s invasion of Ukraine.
John Woods already pleaded guilty to federal charges that he raised more than $110 million in a Ponzi scheme. Plaintiffs in a suit against Oppenheimer & Co. claim the firm failed to protect his clients.
Adam and Daniel Kaplan were charged with wire and investment fraud and money laundering for misappropriating at least $5 million from dozens of clients, many of whom were elderly or disabled.
The SEC approved a plan on Wednesday to root out what Chair Gary Gensler has said are conflicts of interest that can arise when financial firms use artificial intelligence.
The state became the latest to finalize regulation or legislation based on the standard set by the National Association of Insurance Commissioners to align annuity rules with Reg BI.
Only a small fraction of firms have increased their use of client testimonials and endorsements in the wake of the SEC’s updated marketing rules, according to a recent Investment Adviser Association survey.