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Financial Advisor IQ
The Investor Advisory Committee last week proposed guidelines to safeguard retail investors who dip into private markets. The Securities and Exchange Commission’s Investor Advisory Committee last weeksignaled its willingness to open private market access to all investors — but with an added set of investor-protection guardrails. The committee on Thursday voted to adopt a draft […]
Financial Advisor IQ
Missouri’s Secretary of State is demanding answers from Finra over its December 2022 halt in trading of meme stock MMTLP, a move that left many investors holding valueless shares after the company went private. The Financial Industry Regulatory Authority is facing a renewed call for answers regarding its December 2022 decision to halt trading of […]
Financial Advisor IQ
Industry groups have taken aim at a Tennessee regulator’s proposal that would establish a custodial arrangement any time an advisor transfers assets or securities between a customer’s accounts, even with a standing authorization from the customer. A cohort of industry groups has asked a Tennessee regulator to rewrite a proposed custody rule they say has […]
Financial Advisor IQ
Recent legal matters have demonstrated the need for financial services firms to create codes of conduct to address romantic relationships between advisors and their clients.
Financial Advisor IQ
In an arbitration claim seeking more than $50 million in damages, advisor Sam Su is accused of telling a client “that to withdraw money from her accounts, she would have to engage in sexual relations with him.”