The Securities and Exchange Commission announced that it has charged China-based investment adviser QZ Asset Management Limited a/k/a Qianze Asset Management Limited (QZ Asset), its South Dakota-based holding company QZ Global Limited, and the CEO of both entities,...
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Securities and Compliance
Arizona broker-dealer ordered to pay $1 million in connection with salesman’s fraudulent actions
An Arizona broker-dealer has been penalized in connection with the fraudulent activities of one of its former registered securities salesmen, Investment News reports. The Arizona Corporation Commission (ACC) ordered Scottsdale-based United Planners Financial Services...
SEC backs off on proposal to impose ‘swing pricing’ on mutual funds
The Securities and Exchange Commission will not be moving forward at this time with a proposal involving so-called "swing pricing", according to a report by Financial Advisor and Bloomberg News. Swing pricing is a method in which the costs of redeeming shares in a...
Carl Icahn and firm to pay $2M for failing to disclose pledges of company’s securities as collateral
The Securities and Exchange Commission announced charges and financial penalties against Carl C. Icahn and his publicly traded company, Icahn Enterprises L.P. (IEP), InvestmentNews reports. The SEC said it took the action against Icahn for failing to disclose...
SEC fines 26 firms a combined $390 million over recordkeeping failures
The Securities and Exchange Commission has taken the latest step in its crackdown on off-channel communications in the financial industry, AdvisorHub reports. The SEC announced charges against 26 broker-dealers, investment advisers, and dually-registered...
