The Certified Financial Planner Board of Standards announced a step aimed at enhancing the transparency of public sanctions against advisors, reports Wealth Management. The CFP Board said that going forward, whenever it issues a news release involving public...
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Month: November 2023
FINRA supported by regulators, lawyers association in suit filed by expelled firm
The Financial Industry Regulatory Authority has drawn additional support in defending a legal challenge to its constitutionality, according to InvestmentNews. The North American Securities Administrators Association (NASAA) and the Public Investors Advocate Bar...
DOJ files brief opposing challenge to constitutionality of FINRA
The Department of Justice has filed a brief opposing a challenge to the constitutionality of the Financial Industry Regulatory Authority, according to a Reuters report. The DOJ took the action last at the District of Columbia U.S. Circuit Court of Appeals in support...
Wells Fargo under investigation by SEC over cash sweep options
Wells Fargo & Company disclosed that it is under investigation over cash sweep options provided to its investment advisory clients, Reuters reports. The disclosure of the probe by the Securities and Exchange Commission came in a regulatory filing by the bank. The...
SEC Chair Gensler warns of potential risks of AI in financial industry
The Chair of the Securities and Exchange Commission addressed the opportunities and risks presented by the growth of artificial intelligence during an exclusive interview with MarketWatch recently. Gensler discussed the potential ramifications of AI technology for the...