For IBD advisors who don’t choose the retirement route, many say they’ll focus on their own RIA business, if they’re reclassified by the DOL as employees, according to a new survey commissioned by FSI.
Charles Richard Burgess will go to prison for more than six years for fleecing investors of more than $4 million, while pretending to be a registered investment advisor.
The Financial Industry Regulatory Authority detailed the focus of its examinations in 2023.
In an interview with WealthManagement.com, Dan Moisand stressed the need for updated guidelines and also said the Board hopes to provide more detail on the reasoning behind punishments.
Gary Gensler wants to level the playing field for regular folks navigating a fragmented marketplace.
Flagstaff, Ariz.–based John Lopez promised clients his 'algorithm' guaranteed 10% returns; he faces 20 years in prison for allegedly deceiving clients of his non-registered business, Personal Money Management Company.
While the marketing rule went into effect last year, advisors had until November 2022 to get into compliance.
Regulators have had a busy year chasing after financial scammers — and there’s a lot more work to do.
