The SEC has announced it will host a roundtable of SEC and FINRA staff to discuss initial observations on Regulation Best Interest and Form CRS implementation. The roundtable, which will be held virtually, will take place Oct. 26, 2020, and discuss how
SEC Enforcement Action – VALIC Financial Advisors Wrap Program
On July 28, 2020, the SEC announced a pair of settled administrative actions against Houston-based VALIC Financial Advisors (VFA). In the first action, the SEC charged VFA with failing to disclose that its parent company paid a for-profit entity owned by a
SEC Issues Additional Form CRS Guidance
On Oct. 8, 2020 the SEC issued a joint statement on additional Form CRS guidance regarding firms’ disciplinary history. The statement was released in tandem with several new FAQs, which help clarify firms’ disclosure obligations as they relate to disciplinary history. The
Dealing with Vulnerable Investors and Financial Exploitation
Unfortunately, financial exploitation is a significant and growing area of concern, particularly with elderly investors or those with diminished capacity. Investment advisers are facing a client base who is increasingly older, and with that comes the increased likelihood of an investment adviser
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