The Securities and Exchange Commission has charged Fundrise Advisors LLC of Washington, D.C. for a violation of the cash solicitation rule, according to a report by Financial Advisor. Fundrise, an investment advisor, agreed to a $250,000 civil penalty to settle the...
Representing financial professionals, financial institutions and investors in investment loss, employment and disclosure matters, and in regulatory investigations nationwide.
Month: August 2023
Appeals court declines to lift injunction against FINRA in dispute with expelled firm
A federal appeals court has ruled against the Financial Industry Regulatory Authority in its legal battle with an expelled brokerage firm, reports AdvisorHub. Last week, the U.S. Court of Appeals for the D.C. Circuit upheld a preliminary injunction against FINRA that...
SEC adopts new rules to enhance regulation of private fund advisers
The Securities and Exchange Commission adopted new rules to increase the regulation of private fund advisers, AdvisorHub reports. The commission said its action was aimed at protecting private fund investors by increasing transparency, competition, and efficiency in...
New reforms adopted by FINRA to tighten process for expungement
The Financial Industry Regulatory Authority has adopted reforms making it more difficult for brokers to expunge client disputes from their records, AdvisorHub reports. In Regulatory Notice 23-12, FINRA said that the new rules, approved by the Securities and Exchange...
UBS to pay $1.44 billion over alleged misconduct in residential mortgage-backed securities
The US Department of Justice announced a settlement with UBS AG over alleged misconduct in the sale of residential mortgage-backed securities, (RMBS) AdvisorHub reports. The company settled a civil action that was filed in November 2018 related to UBS’ underwriting...
