In an update to a case over alleged fraud involving the firm Biozoom that we reported on last year, the SEC last month charged 4 individuals with generating over $34 million in illicit profit by engaging in a series…
Intentional and unintentional conflicts of interest are nothing new in the world of finance, but a recent instance of alleged fraud serves to underscore how damaging these cases can ultimately. In this particular case, Mario Hinojosa and his wholly-owned…
When the 2018 Exam Priorities were released by the SEC, few were surprised to learn that risk to retail investors (especially seniors and those saving for retirement) would be at the top of the list. With the Baby Boomer…
The SEC recently announced charges against an investment adviser, Premium Point Investments LP, and accused the adviser of engaging in intentional fraud – you can read the SEC’s litigation release and find its Complaint containing the charges here. The SEC…
With the issue of investment advisers putting their clients into higher-fee share classes when a low-cost option is available continuing to be a problem – and the subsequent Share Class Selection Disclosure Initiative developed to combat the problem on a…
Though we’ve known ever since the SEC released its exam priorities for 2018 that cybersecurity would continue, as in years past, to be a priority, the SEC’s Office of Compliance Inspections and Examinations (“OCIE”) recently announced a plan for a…
The 2018 SEC Exam Priorities once again listed wrap fee programs as one of their areas of focus this year. This is not unexpected, as the continued push by the SEC to protect retail investors (and the subset of senior/retiring…
While SEC Examinations can be extremely intimidating, we’ve found that the SEC Exam process doesn’t have to be nearly as painful as many firms assume it to be….
Proper disclosure of the costs of investing, including disclosure of all fees and their potential effects on the value of investments, is critical for all firms. However, despite a focus, for years now, on this issue by the SEC, FINRA…
If you run afoul of FINRA rules and regulations, FINRA has the authority to fine, suspend or bar brokers and firms from the industry. Depending on the violation, when it was discovered, and by whom, you may be faced with…