Three Northwestern Mutual subsidiaries will pay the highest penalty among firms that were charged with recordkeeping violations by the Securities and Exchange Commission, according to AdvisorHub. The case involves 16 firms who paid a total of over $81 million in civil...
Representing financial professionals, financial institutions and investors in investment loss, employment and disclosure matters, and in regulatory investigations nationwide.
Securities and Compliance
SEC Chair Gensler discusses agenda for the remainder of his term
Securities and Exchange Commission Chair Gary Gensler discussed his agenda for the remainder of his term in an interview published last week in AdvisorHub. Gensler was sworn in in April 2021 for a five-year term as head of the SEC, and has said he plans to stay on in...
16 firms fined over $81 million by SEC over recordkeeping failures
The Securities and Exchange Commission is fining 16 firms a total over $81 million for widespread recordkeeping failures, WealthManagement reports. Charges were brought against five broker-dealers, seven dually registered broker-dealers and investment advisers, and...
SEC to hold law school summit on free legal services to underrepresented investors
The Securities and Exchange Commission announced it will be holding an event next month drawing attention to the need for underrepresented investors to have access to free legal services. The 2024 Investor Advocacy Clinic Summit, hosted by the SEC's Office of the...
SEC adopts new rules for protecting investors in SPACs, shell companies
New rules designed to protect investors in initial public offerings by special purpose acquisition companies (SPACs) have been adopted by the Securities and Exchange Commission. In a news release, the SEC said it approved the rules in order to tighten disclosure...