Near the end of September 2017, the Securities and Exchange Commission (“SEC” or the “Commission”) filed a complaint in the U.S. District Court for the Western District of New York, against an investment adviser and his assistant. The Commission alleged…
IRA rollovers are generally an important component of many advisors’ business model. Now, could some of these rollovers be caught within the potentially confusing boundaries of the DOL Fiduciary Rule? Advisors should proceed with caution when discussing even a client’s…
The Securities and Exchange Commission has ordered the dually registered Investment Adviser/Broker-dealer Cadaret, Grant & Co., Inc. to pay disgorgement, prejudgment interest, and civil penalties of more than 3 million dollars due to the Adviser/Broker-Dealer’s violations of the Investment Adviser…
KMS Financial Services, Inc. is based in Washington and dually registered as a broker-dealer and investment adviser. The SEC found that in its capacity as registered investment adviser, the firm 1) failed to disclose to its clients additional compensation it…
Most individuals that have been in the financial services industry for any amount of time are aware that there is a requirement to register with a regulatory body in order to provide financial advice for compensation. However, those that are…
It’s that time of year again and FINRA has published its Exam Priorities Letter which highlights areas of significant focus in their audit program. These priorities represent FINRA’s assessment of the key issues they will focus on in 2013. The…