Regulatory & Compliance

Regulatory & Compliance (285)

SEC Smacks 27 Firms Over Reg Bi

The Securities and Exchange Commission settled with 21 investment advisers and six broker-dealers for a total of $910,092 in the first significant enforcement action related to Reg Bi since it was enacted last year. So reports Compliance Week.


Gensler: SEC Looking at Retail Trading Apps, SPACs and Dark Pools

Chairman Gary Gensler said the SEC is looking at retail trading apps and SPACs out of concern for the wellbeing of smaller investors. So reports Barron’s.


FA Who Ripped Off Parents, Others for $2.6M Headed to Jail  

Edward Matthes, 51, is going to federal prison for scheming 27 victims, including his parents, out of a $2.6 million. He was a broker with Mutual of Omaha Investor Services Inc. So reports the Milwaukee Journal Sentinel.


Gary Gensler Gets Senate Approval to Head SEC

The Senate voted 53-46 to approve Gary Gensler, Joe Biden’s pick to lead the Securities and Exchange Commission. So reads CNBC.


Kansas City FA Accused of Ripping Off Pro Athletes

Douglad E. Elstun, a Kansas City area financial adviser, is accused of overcharging clients and pushing them into risky investments that resulted in heavy losses. So reports The Kansas City Star.


What to Expect from Gary Gensler, Biden’s Pick for SEC Chair

Biden’s pick to run the Securities and Exchange Commission (SEC), Gary Gensler, has some on Wall Street worried about a tougher regulatory environment. So reports Reuters.


Another FA Sent to Jail for Scamming Pro Athletes

Former financial advisor Ash Narayan, 55, was sentenced to 37 months in federal prison for scamming several professional athletes, including ex-NFL quarterback Mark Sanchez, and MLB pitchers Jake Peavy and Roy Oswalt. So reports the Los Angeles Times.


What Does Joe Biden Win Mean for Advisors?

Experts and observers say that the victory of Joe Biden likely means retooled regulations, new retirement plan rules and possibly higher taxes for wealthy Americans. So reports Financial Planning.


Former FA Gets 6 Years in Jail in Historical Chinese Bond Scheme

Gregory Alan Smith, 58, and formerly a financial advisor in Shreveport, La, was sentenced to 72 months in prison for conspiracy to commit wire fraud. So reports the Shreveport Times.


Ex-advisor Sentenced to 17 Years in Jail for Swindling NHL Stars

Phillip Kenner, a former financial advisor from Boston, has been sentenced to 17 years in jail for defrauding several NHL stars, including Michael Peca, Darryl Sydor, Bill Ranford, Bryan Berard, and Sergei Gonchar. So reports Wealth Professional.


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