Regulatory & Compliance (280)
What to Expect from Gary Gensler, Biden’s Pick for SEC Chair
- Friday, 15 January 2021
- Regulatory & Compliance
- Written by PFA News
Biden’s pick to run the Securities and Exchange Commission (SEC), Gary Gensler, has some on Wall Street worried about a tougher regulatory environment. So reports Reuters.
Read more...Another FA Sent to Jail for Scamming Pro Athletes
- Thursday, 26 November 2020
- Regulatory & Compliance
- Written by PFA News
Former financial advisor Ash Narayan, 55, was sentenced to 37 months in federal prison for scamming several professional athletes, including ex-NFL quarterback Mark Sanchez, and MLB pitchers Jake Peavy and Roy Oswalt. So reports the Los Angeles Times.
Read more...What Does Joe Biden Win Mean for Advisors?
- Monday, 16 November 2020
- Regulatory & Compliance
- Written by PFA News
Experts and observers say that the victory of Joe Biden likely means retooled regulations, new retirement plan rules and possibly higher taxes for wealthy Americans. So reports Financial Planning.
Read more...Former FA Gets 6 Years in Jail in Historical Chinese Bond Scheme
- Monday, 16 November 2020
- Regulatory & Compliance
- Written by PFA News
Gregory Alan Smith, 58, and formerly a financial advisor in Shreveport, La, was sentenced to 72 months in prison for conspiracy to commit wire fraud. So reports the Shreveport Times.
Read more...Ex-advisor Sentenced to 17 Years in Jail for Swindling NHL Stars
- Monday, 16 November 2020
- Regulatory & Compliance
- Written by PFA News
Phillip Kenner, a former financial advisor from Boston, has been sentenced to 17 years in jail for defrauding several NHL stars, including Michael Peca, Darryl Sydor, Bill Ranford, Bryan Berard, and Sergei Gonchar. So reports Wealth Professional.
Read more...Morgan Stanley to Pay $60M for Data Protection Miscue
- Monday, 19 October 2020
- Regulatory & Compliance
- Written by PFA News
Morgan Stanley has agreed to pay $60 million to settle claims that the bank failed to properly safeguard customer information when it decommissioned two wealth management data centers. So reports Compliance Week.
Read more...Mass. Advisor Guilty of Stealing $4M from Clients
- Friday, 02 October 2020
- Regulatory & Compliance
- Written by PFA News
Gerald Eaton, a Massachusetts-based investment advisor and financial planner working for Heritage Financial Group pleaded guilty to stealing in excess of $3.7 million. So reports Patch.
Read more...FINRA Sanctions Ex-Edward Jones Broker for Directly Settling with Customer
- Tuesday, 25 August 2020
- Regulatory & Compliance
- Written by PFA News
The Financial Industry Regulatory Authority (FINRA) has suspended and fined Michael A. Erwin, a former Edward Jones & Co. broker based in Topeka, Kansas, for negotiating his own settlement with an unhappy customer. So reports Advisor Hub.
Read more...SEC Says Pandemic Increases Risk of Advisor Wrongdoing
- Saturday, 08 August 2020
- Regulatory & Compliance
- Written by PFA News
The Securities and Exchange Commission’s Office of Compliance Inspections and Examinations (OCIE) issued an alert that market turbulence caused by the COVID-19 pandemic may heighten “the risks of misconduct in various areas that the staff believe merit additional attention.” So reports Think Advisor.
Read more...VALIC FAs Settles with SEC for $40M for Deceiving Teachers
- Wednesday, 29 July 2020
- Regulatory & Compliance
- Written by PFA News
The SEC announced that VALIC Financial Advisors (VFA) will pay $40 million for deceiving teachers in Florida. So reports Financial Advisor.
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