The Securities and Exchange Commission has charged a Minnesota investment adviser with violating the SEC's pay-to-play rule, InvestmentNews reports. The SEC found that Wayzata Investment Partners LLC continued to receive compensation from a government entity within...
Representing financial professionals, financial institutions and investors in investment loss, employment and disclosure matters, and in regulatory investigations nationwide.
Month: April 2024
SEC issues risk alert to firms regarding compliance with marketing rule
The Securities and Exchange Commission has issued a risk alert to provide information to advisers and firms about issues it found in complying with its marketing rule, reports InvestmentNews. The SEC's advisory detailed its findings from a staff review of whether...
Former South Carolina broker and advisor pleads guilty to tax evasion
Federal prosecutors announced that a former advisor and stockbroker from South Carolina has pleaded guilty to charges of tax evasion, according to Financial Advisor. The case involves 72-year-old Dennis Wayne Brite of Aiken. The U.S. Attorney's Office said its...
Department of Labor finalizes rule updating definition of investment advice fiduciary
The U.S. Department of Labor announced that it has finalized its new fiduciary rule aimed at protecting retirement investors who rely on advice from financial professionals, AdvisorHub reports. The rule, which takes effect on Sept. 23, would update the definition of...
FINRA enforcement chief outlines plans for protecting investors and markets
The head of enforcement for the Financial Industry Regulatory Authority discussed his key objectives aimed at protecting investors in a recent blog post, AdvisorHub reports. Bill St. Louis, Executive Vice President and Head of FINRA Enforcement, emphasized that FINRA...
