By Kyle Brasseur2023-10-04T13:57:00
The Securities and Exchange Commission (SEC) criticized the structure of the compliance program in place at a Texas-based investment adviser as part of a lawsuit against the firm and one of its former representatives.
The Advisor Resource Council (ARC) was charged in a complaint filed by the SEC on Friday. The firm was accused of making false and misleading statements in its Form ADV brochures and failing to adopt policies and procedures to ensure fair and equitable trade allocations among its advisory clients.
The SEC also charged Steven Jacobson regarding his alleged role in a cherry-picking scheme. Jacobson was a representative associated with ARC from October 2019 until he was terminated in January 2021.
2024-03-25T20:14:00Z By Kyle Brasseur
Advisor Resource Council agreed to pay a $300,000 penalty to resolve charges levied by the Securities and Exchange Commission of compliance failures exacerbated by staffing woes.
2023-10-02T19:42:00Z By Kyle Brasseur
New York-based broker-dealer Maxim Group agreed to pay an $800,000 fine in settling with the Securities and Exchange Commission regarding the firm’s alleged failures to file required suspicious activity reports and properly execute certain short sales.
2023-09-29T18:30:00Z By Aly McDevitt
New York-based investment adviser D. E. Shaw & Co. will pay a $10 million penalty to settle charges brought by the Securities and Exchange Commission that the company raised impediments to whistleblowing by employees.
2025-09-12T19:40:00Z By Oscar Gonzalez
The DOJ sued Uber Thursday, alleging it violated the Americans with Disabilities Act (ADA) by denying people with disabilities equal access to its services.
2025-09-11T20:53:00Z By Neil Hodge
Europe’s banking regulator warns that weak compliance at fintech, regtech, and crypto firms may let money laundering and terrorist financing risks slip through. The EBA also found EU regulators’ approaches are often inconsistent and unclear.
2025-09-10T22:24:00Z By Adrianne Appel
California, Colorado, and Connecticut launched a joint enforcement sweep against businesses that fail to honor consumers’ online opt-out requests, the states announced Tuesday.
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