The fixed-income star at the Franklin Templeton-owned firm is facing scrutiny over some past trades in Treasury derivatives.
The firm reportedly violated a two-year “time out” that was triggered when an employee made a campaign contribution to a key government official.
The regulator has been interested in Carl Icahn and his company for a long time, one compliance expert noted.
He was fired after an exam revealed he conducted trades in the account, which was worth more than $260K, without proper authority.
Drive Planning and its owner Todd Burkhalter deceived thousands of investors, the agency said in lawsuit.
The regulator’s scrutiny and charges against one firm could spark tighter enforcement over off-channel communications, says compliance consultancy.
The ex-broker cheated a senior investor out of more than $700k and attempted to hide it in Ponzi-like fashion, according to the SEC.
The Atria subsidiary failed to disclose conflicted payments and mutual fund transaction markups to clients for nearly five years, according to the SEC.
The SEC said Bellevue, Washington-based firm flouted the regulator’s marketing rule when it touted certain performance figures.
SEC staff have concluded an investigation involving several now-liquidated ETFs.
Such trades were underreported since 1997, the regulator said.
Financial planner on client communication, compliant text messaging, and cybersecurity mandates.
Impact of litigation will affect some business models going forward, source says.
While Left allegedly manipulated stock prices, there is no shortage of questionable financial information out there that investors are eager to follow.
Despite red flags, Finra says it failed to fix systemic reporting issues that led to over one million inaccurate account statements and trade confirmations.
It's not like clients are being held hostage, says money market expert as yet another brokerage is accused of shortchanging customers.
Firm dinged for flaccid response to red flags across 100 accounts, with nine accounts incurring more than $2.5M in excessive trading costs.
A stay issued on Friday adds to an order in a separate case against the Department of Labor.
There is a stay effective for the rule and one of its prohibited transaction exemptions, but that doesn't necessarily mean firms should hold off on compliance.
It's alleged that defendant used social media posts and research reports to deceive investors.
