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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...
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...
Wells Fargo is reimbursing clients about $40 million after being charged by the Securities and Exchange Commission with imposing excessive advisory fees, according to a report in the Charlotte Observer. The payments to affected account holders, which will include...
The Securities and Exchange Commission has announced the latest award in its whistleblower program, which provides monetary payments to eligible individuals who come forward with information about securities fraud or other wrongdoing. The commission said it had...
The Securities and Exchange Commission has charged Wells Fargo Clearing Services LLC and Wells Fargo Advisors Financial Network LLC over excessive advisory fees, CNBC reports. Wells Fargo agreed to pay a $35 million civil penalty to settle the SEC’s charges. The case...
The Securities and Exchange Commission has charged Fundrise Advisors LLC of Washington, D.C. for a violation of the cash solicitation rule, according to a report by Financial Advisor. Fundrise, an investment advisor, agreed to a $250,000 civil penalty to settle the...
A federal appeals court has ruled against the Financial Industry Regulatory Authority in its legal battle with an expelled brokerage firm, reports AdvisorHub. Last week, the U.S. Court of Appeals for the D.C. Circuit upheld a preliminary injunction against FINRA that...
The Securities and Exchange Commission adopted new rules to increase the regulation of private fund advisers, AdvisorHub reports. The commission said its action was aimed at protecting private fund investors by increasing transparency, competition, and efficiency in...
The Financial Industry Regulatory Authority has adopted reforms making it more difficult for brokers to expunge client disputes from their records, AdvisorHub reports. In Regulatory Notice 23-12, FINRA said that the new rules, approved by the Securities and Exchange...
The US Department of Justice announced a settlement with UBS AG over alleged misconduct in the sale of residential mortgage-backed securities, (RMBS) AdvisorHub reports. The company settled a civil action that was filed in November 2018 related to UBS’ underwriting...
