The Certified Financial Planner Board of Standards has announced sanctions against 17 current or former certified financial planners for various violations of the profession’s ethical standards. The sanctions taken, in order of increasing severity, included two public...
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Month: July 2022
SEC charges Empires Consulting Corp. with fraudulent trading scheme
A Florida-based company and three of its executives have been charged with orchestrating a fake trading scheme, the Securities and Exchange Commission announced. The SEC filed its complaint against Empires Consulting Corp., also known as EmpiresX, along with company...
Former D.E. Shaw fund manager wins $52 million defamation claim
An arbitration panel has awarded $52.1 million to a former fund manager for D.E. Shaw & Co. over his defamation complaint, according to AdvisorHub. The Financial Industry Regulatory Authority arbitrators ruled in favor of Daniel Michalow, who was fired by D.E....
Former Vanguard advisor accused of poaching clients in violation of agreement
A former advisor for Vanguard Group is facing a lawsuit over allegations he violated a nonsolicitation agreement by recruiting some of his former clients, Financial Advisor reports. Vanguard filed suit in the U.S. District Court for the Western District of North...
SEC fines Ernst &Young $100 million over cheating on CPA ethics exams
The accounting firm Ernst & Young will have to pay a $100 million penalty after an investigation determined that employees had cheated on exams, the Securities and Exchange Commission announced. According to AdvisorNews, the SEC said Ernst & Young (EY)...
