- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Aaron Nicodemus2025-01-22T16:13:00
A recent complaint by the Securities and Exchange Commission (SEC) against the chief compliance officer of a Chicago-based investment firm contains some of the most worrisome examples of how CCOs can be found liable for misconduct at their firm.
The CCO at Arete Wealth Advisors allegedly “aided and abetted” a fraudulent penny stock scheme by requiring that victims sign agreements containing false information and an illegal liability disclaimer, according to the SEC.
Arete, a registered investment adviser, was charged in a complaint filed Friday in U.S. District Court for the Northern District of Illinois with violating the antifraud and compliance rule provisions of the Investment Advisers Act. Affiliated broker-dealer Arete Wealth Management was charged with violating recordkeeping provisions of the Securities and Exchange Act, according to an SEC press release.
You are not logged in and do not have access to members-only content.
If you are already a registered user or a member, SIGN IN now.
2024-06-12T21:18:00Z By Aaron Nicodemus
Caroline Pham, a commissioner at the Commodity Futures Trading Commission, said compliance officers have a lot to worry about if they or their firms are subject to CFTC enforcement during her fireside chat at CW’s Financial Crimes Summit.
2023-10-18T14:31:00Z By Aaron Nicodemus
SEC Commissioner Mark Uyeda called for the agency to establish a framework that would describe scenarios in which a chief compliance officer would be held liable for securities law violations made by their firm.
2025-04-30T21:19:00Z By Aly McDevitt
Ellen M. Hunt, CW’s 2025 Lifetime Achievement Award winner, is a torchbearer for the profession and a beloved role model in E&C circles. Lauded for her generosity of spirit, quick wit, and tireless mentorship, the ethics and compliance veteran turned compliance from a patchwork assignment to a true vocation. ...
2025-04-22T12:00:00Z
The Federal Trade Commission (FTC) filed a lawsuit against Uber, alleging the ride-hailing company signed customers up for its Uber One subscription without consent, then made it hard for them to cancel. The move marks the U.S. government’s latest broadside against big tech companies, and the first major action from ...
2025-04-18T17:45:00Z By Oscar Gonzalez
The U.S. Consumer Financial Protection Bureau continues to unravel amid pressure from Trump administration officials to shutter the agency. Not only has the agency informed its employees that it will no longer be a watchdog for the financial services industry, it has also laid off employees despite court orders blocking ...
2025-04-15T07:30:00Z By Aaron Nicodemus
The Consumer Financial Protection Bureau dropped yet another consumer protection lawsuit against a bank or fintech provider since Donald Trump was sworn in as president in January. This time, it was with Comerica Bank.
Site powered by Webvision Cloud