There has been an increase in notices of hearings and bulk track cases because firms’ compliance departments have improved their detection and reporting of non-compliance
The firm will pay a fine of $130,000 and costs of $20,000 after admitting to various regulatory failings
Winston King-Loong Kuit has been ordered to disgorge $147,500 and pay $20,000 in costs for improperly distributing securities and providing misleading information to compliance
This year’s compliance exams will focus on suitability and KYC issues as well as the new cost and performance reporting requirements under CRM2
The SRO's proposed proficiency standards for financial planners is getting pushback from some in the industry
The firm will be paying a $75,000 fine and $20,000 in costs for failing to supervise a rep adequately and not reporting possible violations by the rep
A new notice from the MFDA suggests the issue is prevalent and outlines the measure firms and reps should take to deal with it
The former advisor also falsified multiple documents in order to process the trades so that he could meet his firm’s sales targets and receive higher compensation
The advisor, who has also fined a minimum of $75,000, did not “deal fairly, honestly and in good faith with [his client],” who was also a childhood friend
The paper provides guidance on how regulators have addressed the issue of suitability through their enforcement proceedings against advisors