Called to Testify Before the SEC? What Every Adviser Needs to Know Before Walking Into That Room
You open your mailbox and find an envelope from the Securities and Exchange Commission. Inside is a subpoena directing you…
Read MoreRegulatory Enforcement & Investigations
When FINRA Comes Calling: Who Pays for the Lawyer?
Regulatory inquiries from FINRA, the SEC, the DFPI, or the California Department of Insurance often raise an uncomfortable question for…
Read MoreReceived a FINRA Rule 8210 Letter? What Financial Advisors Need to Know
A Rule 8210 letter from the Financial Industry Regulatory Authority, or FINRA, is not ordinary correspondence. For financial advisors, registered…
Read MoreDon’t Forget Form D – Recent SEC Enforcement Actions Emphasize the Importance of Timely Filing Form D
On December 20, 2024, the Securities Exchange Commission announced that it had settled with multiple entities for failing to timely…
Read MoreCalifornia DFPI Securities Regulator Censures Morgan Stanley for Acting as Unlicensed Lender
The California Department of Financial Protection and Innovation (“DFPI”) has censured a subsidiary entity of Morgan Stanley, Morgan Stanley Smith…
Read MoreSEC Fines 27 Investment Advisers for Form CRS Issues
The SEC’s Division of Enforcement announced action against a whopping 27 investment advisers in connection with issues relating to the…
Read MoreFINRA SUSPENDS EX-MORGAN STANLEY BROKER WHO ADVISED CLIENT ON OUTSIDE TRADING
It can be difficult to know whether a broker’s mistake constitutes a private securities trading violation. Some rules are clear-cut;…
Read MoreWoodbridge CEO Pleads Guilty to $1.3 Billion Fraud
Robert Shapiro, the ex-CEO of the Woodbridge Companies, has pled guilty to orchestrating a $1.3 billion fraud impacting more than…
Read MoreFinancial Adviser Alert: Failure to Comply With FINRA 8210 Request Results in Adviser Bar
In late December 2018, FINRA barred former Morgan Stanley financial advisor Daniel T. Levine from associating with any FINRA member…
Read MoreWells Fargo Losing Financial Advisors to Competitors Amid Ongoing Regulatory Investigations
Wells Fargo’s wealth management unit continues to lose advisors to competitors following reports of a joint probe into the firm’s…
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