The Financial Industry Regulatory Authority has penalized RBC Wealth Management-U.S. over failures in its supervisory system, according to AdvisorHub. RBC agreed to pay nearly $1.1 million to settle FINRA’s finding that the firm failed to properly monitor unsuitable...
Representing financial professionals, financial institutions and investors in investment loss, employment and disclosure matters, and in regulatory investigations nationwide.
Month: April 2023
SEC issues bulletin with guidance for advisors on recommending investments
The Securities and Exchange Commission has issued a staff bulletin providing guidance for broker-dealers and investment advisors on their investment recommendations for clients, Investment News reports. The SEC published its bulletin in the form of questions and...
SEC charges Betterment with misstatements on tax loss harvesting service
The Securities and Exchange Commission announced charges against investment advisory firm Betterment LLC over violations related to its automated tax loss harvesting service (TLH), Advisor Hub reports. Under a settlement reached with the commission, Betterment agreed...
CFP Board announces certification exam results for March 2023
The Certified Financial Planner Board of Standards has announced the results of its CFP® Certification Exam for March. The CFP Board said in a news release that the exam, administered from March 7 – 14, had a pass rate of 65%. A total of 3,527 candidates took the...
FINRA issues warning regarding increase in phishing scams
The Financial Industry Regulatory Authority has issued a warning about phishing scams that can put personal information and assets at risk, ThinkAdvisor reports. In its alert, FINRA noted that these schemes often start with an email, text or encrypted message that...
