A federal court in Connecticut has entered final judgments against Temenos Advisory, a Litchfield, Connecticut-based RIA, and George Taylor, its former chief executive, for putting $19 million of investor money at risk without performing due diligence or disclosing investment risk.
The case, which was brought by the Securities and Exchange Commission, also charged that the firm and its CEO concealed the high sales commissions they received.
Temenos was ordered to pay $768,137 in disgorgement, prejudgment interest of $56,706, and a civil penalty of $775,000. Taylor was ordered to pay $321,956 in disgorgement, prejudgment interest of $22,358, and a civil penalty of $179,618.
Relationships are key to our business but advisors are often slow to engage in specific activities designed to foster them.
Whichever path you go down, act now while you're still in control.
Pro-bitcoin professionals, however, say the cryptocurrency has ushered in change.
“LPL has evolved significantly over the last decade and still wants to scale up,” says one industry executive.
Survey findings from the Nationwide Retirement Institute offers pearls of planning wisdom from 60- to 65-year-olds, as well as insights into concerns.
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