All Finance articles – Page 47
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ArticleArcadia fined $90K for custody rule violations; CCO to undergo training
New York-based investment adviser Arcadia Wealth Management will pay $90,000 for violating a Securities and Exchange Commission rule by failing to obtain “surprise” examinations of advisory client assets.
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ArticleToews fined $150K over proxy voting violations
Investment adviser Toews Corp. agreed to pay $150,000 as part of a settlement with the Securities and Exchange Commission over proxy voting rule violations that prompted two commissioners to issue a dissenting statement.
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Waddell & Reed to pay $775K over wrap fee compliance failures
Investment adviser Waddell & Reed will pay about $775,000 as part of a settlement with the Securities and Exchange Commission for compliance failures and breaching its fiduciary duty.
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ArticleMorgan Stanley unit fined $35M for mishandling customer data
Morgan Stanley Smith Barney agreed to pay $35 million to settle Securities and Exchange Commission charges it repeatedly disregarded the safeguarding of clients’ personal data in decommissioning local storage devices.
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ArticleSEC fines four in pay-to-play enforcement sweep
Four investment advisers were fined between $45,000 and $95,000 by the Securities and Exchange Commission for violating the agency’s pay-to-play rule.
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MIG appoints chief legal officer in charge of compliance
McNeill Investment Group, formerly McNeill Hotel Investors, announced the appointment of Sussan Harshbarger as a managing director and chief legal officer.
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HarbourVest Partners appoints chief compliance officer
HarbourVest Partners, a global private markets investment specialist, announced the appointment of Adam Freedman as managing director and chief compliance officer.
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Bramshill Investments promotes compliance director to CCO
Asset management firm Bramshill Investments announced the promotion of Senior Director of Compliance Mona Daruwala to chief compliance officer.
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ArticleLoop Capital fined $100K over municipal adviser registration violations
The Securities and Exchange Commission for the first time punished a broker-dealer—Chicago-based Loop Capital Markets—for providing advice to a municipal entity without registering with the agency as a municipal adviser.
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ArticleBNY Mellon, 2 others settle with SEC in landmark municipal bonds cases
The Securities and Exchange Commission charged four underwriters with failing to satisfy exemption requirements related to limited offerings of municipal bonds—the first time the agency has taken such an action.
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Court orders $2M from Ambassador Advisors and execs, including CCO
Ambassador Advisors and three of its executives, including its chief compliance officer, must pay a total of more than $2 million for failing to disclose conflicts of interest related to fees received from mutual fund share classes selected for clients.
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Trading 212 appoints chief compliance officer
Trading 212, a U.K.-based fintech company, appointed Darren Dale as group chief compliance officer.
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ArticleNine fined in SEC crackdown on custody rule, Form ADV
Nine investment advisers failed to follow Securities and Exchange Commission rules designed to keep clients’ assets safe and/or timely disclose financial updates following audits, the agency announced.
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ArticleOCC studying risks posed by bank-fintech partnerships
Bank-fintech partnerships have grown “at exponential rates” and become so complicated it is often difficult to distinguish “where the bank stops and where the tech firm starts,” Acting Comptroller of the Currency Michael Hsu said.
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USAA expands ESG head’s role to include DEI
USAA announced recently appointed head of environmental, social, and governance Tara Leweling will serve in an expanded role as vice president, chief diversity and sustainability officer.
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Blue Wolf promotes interim CFO to chief financial, compliance officer
Blue Wolf Capital Partners, a New York-based private equity firm, announced the appointment of Eve Gerriets Mongiardo to chief financial officer and chief compliance officer.
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Perceptive Advisors fined $1.5M for SPACs conflicts, disclosure violations
Perceptive Advisors agreed to pay $1.5 million for allegedly steering clients toward special purpose acquisition companies its investment advisers had financial interests in and failing to disclose those conflicts in a timely fashion.
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Aventura Capital to pay nearly $1M over conflict disclosure lapses
Florida-based investment firm Aventura Capital Management agreed to return more than $700,000 to harmed investors and pay a $225,000 fine for failing to disclose conflicts of interest regarding its mutual fund share class selection process.
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Blockify names chief legal, compliance officer
Financial technology company Blockify announced the appointment of Marcos Kraemer as chief legal and compliance officer.
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Xactus names general counsel, chief compliance officer
Xactus, a credit score verification company serving the mortgage industry, announced the appointment of Ross Gloudeman as general counsel and chief compliance officer.