FINRA’s National Fraud and Financial Crimes Detection Programs has sent 50 cases to the SEC involving potential fraud by public companies related to COVID-19. So reports Think Advisor.
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The Department of Housing and Urban Development has changed principal…
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Since the turmoil that seized the banking sector with the mid-March failure of Silicon Valley Bank, at least 21 advisors have left First Republic Bank, with 13 heading to Morgan Stanley. So reports AdvisorHub.
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Private equity group Reverence Capital Partners is courting suitors for a minority stake in wealth…
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The NFL Players Association has approved UBS to work with current and former players through…
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Robo-advisor Titan Global Capital Management USA has agreed to pay more than $1 million to settle the Securities and Exchange Commission’s charges that it broke the regulator’s marketing rule by marketing eye-popping performance that hadn’t happened. So reports InvestmentNews.
The SEC claimed in its order that from August 2021 to October 2022, Titan advertised annualized returns of 2,700% without disclosing that the numbers were for a “purely hypothetical account.”
Compliance experts told the magazine that the enforcement action is a reminder for investment advisors that use hypothetical performance in their ads to double-check their practices and disclosures.
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