Regulation & Compliance

James McDonald was taken into custody in Port Orchard, Wash. and will face federal charges in Los Angeles. He is accused of losing millions in client funds and fled an SEC subpoena in 2021.

The staffers, all in the firm’s wealth- and investment-management unit, were “discharged after review of allegations involving simulation of keyboard activity creating impression of active work.”

Political contributions can pose compliance concerns—and reputational risks—to firms in a hotly contested election year.

The Fifth Circuit Court of Appeals struck down the SEC’s Private Fund Adviser Rules this week, but clients still need transparency.

The SEC and FINRA are being transparent about their increased regulatory activity around off-channel communications and the marketing rule.

Former employees of Salomon & Ludwin claim they were under the protections of the Broker Protocol when they departed; they also cited concerns about the RIA’s culture and poor communication.

The American Council of Life Insurers, the Insured Retirement Institute and Finseca are among the plaintiffs in the newest suit against the Labor Department’s rule. This is the second suit filed against the rule in Texas this month.