Robo-advisor SoFi Wealth has been fined $300,000 and censured by the Securities and Exchange Commission over alleged violations involving its use of exchange traded funds, InvestmentNews reports. The SEC’s action stems from a 2019 decision by SoFi Wealth related to...
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Month: August 2021
SEC names Sanjay Wadhwa as Deputy Director of Division of Enforcement
Sanjay Wadhwa has been appointed as Deputy Director of the Division of Enforcement for the Securities and Exchange Commission, the SEC announced in a news release. Wadhwa, who joined the SEC as a staff attorney in 2003, will begin his new role effective immediately....
Study investigates fraud by RIAs in Paycheck Protection Program
A recent study investigates the level of misconduct by registered investment advisors who applied to the federal Paycheck Protection Program, according to the InvestmentNews. The loan program earmarked financial assistance for struggling small businesses to help keep...
FINRA fines, censures G1 Execution Services of Chicago over customer order violations
The Financial Industry Regulatory Authority recently took disciplinary action against G1 Execution Services, LLC, a Chicago brokerage firm, for alleged deficiencies in the process of executing customer orders. The findings pertained to orders from the firm’s clients...
New York financial advisor charged with scheme to defraud investors
A New York financial advisor is facing a fraud charge after authorities say he ran a scheme over the past decade to bilk investors out of millions of dollars, AdvisorNews reports. Martin Ruiz of the investment advisory firm Carter Bain Wealth Management appeared last...
