Regulatory & Compliance

Regulatory & Compliance (282)

Big Insurers Tried to Weaken NY State Investor Protection Rule

A host of insurers tried to weaken a proposed rule revision by New York state that would protect consumer from inappropriate sales practices involving retirement savings products. So reports Politico.

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Gov't Shutdown Could Delay Regulation Best Interest

The Securities and Exchange Commission’s work on creating Regulation Best Interest could be delayed because the regulator is operating with limited staff as a result of the government shutdown. So reports Advisor News.

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SEC Cracks Down on Robo-Advisers

The SEC has fined Wealthfront Advisors $250,000 and Hedgeable $80,000 after alleging that the two robo-advisers made misleading statements. So reports Reuters. Read more...

Advisor Sentenced to 15 Years for Fraud

Darrell Smith, a former Iowa investment advisor, will spend nearly 15 years in federal prison for stealing $2.4 million from clients in order to finance operations of an ethanol plant. So reports Financial Planning. Read more...

Voya to Pay $1M Over Cybersecurity Breach

Voya Financial Advisors will pay $1 million to settle SEC charges. So reports Financial Planning.  Read more...

Investor Advocates Call for Delay of Regulation Best Interest

The Financial Planning Coalition and other investor advocates are asking the Securities and Exchange Commission to delay going forward with the Regulation Best Interest because of confusion regarding the differences between brokers and registered advisors. So reports Wealth Management. Read more...

SEC Follows Finra, Massachusetts in Barring Advisor from Industry

Former LPL advisor Roger S. Zullo, who has been barred from working in the industry by Finra and the state of Massachusetts, has just been barred from the industry by the Securities and Exchange Commission. So reports Financial Advisor Magazine

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SEC Commissioner Says Best Interest Reg Could Harm Investors

Securities and Exchange Commissioner Hester Peirce maintains that the regulator’s proposed Regulation Best Interest, or Reg BI, for brokers, could accelerate the trend of brokers becoming registered investment advisors who focus on larger investors. So reports Think Advisor.

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SEC Charges Advisor with Defrauding Investors

Kimberly Pine Kitts, who was formerly an advisor in the Cape Cod area, has been charged by the Securities and Exchange Commission with of stealing more than $3 million from clients’ investment and retirement accounts. So reports Think Advisor. Read more...

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