In what appears to be a growing trend, state and federal regulators are launching investigations into the sales practices and administration of 403(b) retirement plans for school districts.
Two weeks ago, on January 10,...more
1/28/2020
/ 403(b) Plans ,
Benefit Plan Sponsors ,
Broker-Dealer ,
Deferred Compensation ,
Educational Institutions ,
Enforcement Actions ,
Financial Industry Regulatory Authority (FINRA) ,
Government Investigations ,
Investment Adviser ,
Life Insurance ,
Plan Administrators ,
Retail Investors ,
Retirement Plan ,
School Districts ,
Securities and Exchange Commission (SEC) ,
Teachers
The SEC announced a self-reporting initiative for investment advisors who admit violations of the federal securities laws relating to certain mutual fund share class election issues while promptly returning money to harmed...more
Tell the truth, the whole truth, and nothing but the truth: that’s the message to registered investment advisors from the Office of Compliance Inspections and Examinations (OCIE) in a recent risk alert about the SEC’s...more
9/20/2017
/ Advertising ,
Investment Adviser ,
Investor Protection ,
Marketing ,
Material Misstatements ,
Misleading Statements ,
OCIE ,
Registered Investment Advisors ,
Risk Alert ,
Securities and Exchange Commission (SEC) ,
Truth in Advertising
The SEC recently approved FINRA’s proposed rule aimed at preventing fraud and abuse of senior investors. On March 30, FINRA issued Regulatory Notice 17-11, setting the effective date for the new rule as February 5, 2018. The...more
4/13/2017
/ Broker-Dealer ,
Elder Issues ,
Exploitation ,
Financial Industry Regulatory Authority (FINRA) ,
Financial Institutions ,
Financial Services Industry ,
Fraud and Abuse ,
Investment Adviser ,
Investors ,
Proposed Amendments ,
Proposed Legislation ,
Securities and Exchange Commission (SEC) ,
Vulnerable Victims
This week, the SEC’s Office of Compliance Inspections and Examinations (OCIE) released its Examination Priorities for 2017 that reflects certain practices, products, and services that OCIE perceives to present potentially...more
1/13/2017
/ Anti-Money Laundering ,
Automation Systems ,
Broker-Dealer ,
Investment Adviser ,
OCIE ,
Private Funds ,
Recidivism ,
Retail Investors ,
Retirement Plan ,
SEC Examination Priorities ,
Securities and Exchange Commission (SEC) ,
Security Risk Assessments ,
Senior Investors
The White House recently announced the Department of Labor’s (DOL) highly anticipated final fiduciary/conflict of interest rule and exemptions intended to ensure that retirement savers get investment advice in their best...more