Estimated reading time: 0 minutes, 25 seconds

Small B-D to Pay $50K to End SEC’s Reg BI Claims  

Friday, Sep 29 2023
Regulatory & Compliance
Written by  PFA News

Carl M. Hennig Inc. has agreed to pay $50,000 to settle the Securities and Exchange Commission’s claims that it fell short of Regulation Best Interest, according to the regulator. So reports InvestmentNews.

SEC Seal of the United States Securities and Exchange CommissionBased in Oshkosh, Wisconsin, the broker-dealer firm has about 10 registered reps overseeing some $1.3 billion in client assets.

The SEC cited alleged shortcomings in Hennig’s policies and procedures for meeting Reg BI, the 2020 rule that requires brokers to put their customers’ financial interests ahead of their own.

Read the full article from InvestmentNews.

Read 1187 times
Rate this item
(0 votes)
More in this category: « Northwestern Mutual Fined $400K Over Emails to Prospects   Ex-LPL FA Gets 15 Years in Prison Over $1.3M Fraud   »

Visit other PMG Sites:
PMG360 is committed to protecting the privacy of the personal data we collect from our subscribers/agents/customers/exhibitors and sponsors. On May 25th, the European's GDPR policy will be enforced. Nothing is changing about your current settings or how your information is processed, however, we have made a few changes. We have updated our Privacy Policy and Cookie Policy to make it easier for you to understand what information we collect, how and why we collect it.
Ok Decline