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.
The increased demands placed on chief compliance officers in a volatile market are creating regulatory risks that threaten to 'trickle up' to executives and boards.
Initially, most enforcement actions will pertain to infractions the agency would have pursued under the suitability standards regardless, according to FINRA's head of enforcement.
With some exceptions, Reg BI scrutiny will be included in broader firm examinations rather than a sole focus of inquiry, according to one FINRA representative.
The company failed to stop potential conflicts of interests involving credit rating analysts' engagement with marketing efforts in 2015 and 2016, according to a commission order.
The task force is headed by former FBI Special Agent Greg Ruppert and has already made dozens of referrals to the SEC about potentially fraudulent activity.