RIAs are certainly in the cross-hairs of the SEC. The SEC recently sanctioned a RIA for misrepresenting its use of performance models that were actually hypotheticals relating to backtested performance.
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Brokers
The SEC Believes a Bar Only Relates to the Future Not the Past, Yeah Right!!
As many know, the Dodd-Frank Act confirmed the SEC’s power to seek and/or impose certain penalties and remedies. A recent case against a hedge fund manager, In the Matter of …
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Be Careful When Using Personal Investment Advisory Questionnaires
In a recent award, a FINRA panel held that the use of a personal investment advisory questionnaire as a disclosure device was misleading and had the capacity to deceive. The…
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FINRA Proposes Rule Changes Relating To Subpoenas In Customer And Industry Disputes
On August 24, 2012, FINRA filed a proposed rule change with the SEC relating to when industry parties seek the appearance of witnesses or the production of documents from FINRA…
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Broker Routing Decisions; Are There Conflicts Of Interest
As a result of conclusions from a recent study by Woodbine Associates, Senator Charles Schumer wrote to SEC Chairman Schapiro requesting that the SEC take action to ensure that brokerages…
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