The Securities and Exchange Commission is facing a lawsuit over its recently adopted rules to increase the regulation of private fund advisers, reports Reuters. Six private equity and hedge fund trade groups filed the suit in the United States Court of Appeals for the...
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Month: September 2023
FINRA fines and censures Network 1 for violating Reg BI
A New Jersey-based broker-dealer has been penalized by the Financial Industry Regulatory Authority over violations involving Regulation Best Interest, reports ThinkAdvisor. According to a letter of acceptance, waiver and consent, FINRA ordered Network 1 Financial...
CFP Board requests comment on revised sanction guidelines and fitness standards
The Certified Financial Planner Board of Standards is requesting public comment on proposed revisions to its sanction guidelines and fitness standards, Financial Planning reports. The proposals follow a comprehensive review by the Commission on Sanctions and Fitness,...
SEC issues risk alert over selection of RIAs for examinations
The Securities and Exchange Commission issued a risk alert regarding its examination process for registered investment advisers, according to AdvisorHub. In the alert, the commission's Division of Examinations detailed the steps it takes in determining which firms to...
CFTC orders Goldman Sachs to pay $5.5 million for violations involving audio recordings
The Commodity Futures Trading Commission announced it is penalizing Goldman Sachs over recordkeeping violations and violating the cease-and-desist provision of a previous commission order, according to the Wall Street Journal. The CFTC said Goldman Sachs has agreed to...