Books & Records
It's Official: The SEC Is Checking ADV Claims And Punishing "Creative" Errors
Yes, the SEC really is reading Form ADV disclosures now and comparing them to reality. One firm is currently facing a cease-and-desist order after allegedly inflating its AUM by several orders of magnitude.
SEC Vows Again To Get Tough On ADV Frauds
The SEC must have been stung by accusations that they're not doing enough to keep advisors in line. They're actually going to start checking form ADV statements for errors and lies.
FTN Implicated In Failed RIA's Attempts To Alter Its Books
The SEC has gone to First Tennessee National's brokerage unit in order to collect about $1.5 million clients of failed RIA Sentinel Management are owed.
FINRA Gets A Cease And Desist Order From The SEC: Stop Faking Documents
The SEC has issued a disciplinary order to FINRA demanding that the self-regulatory group stop providing doctored documentation during inspections.
FINRA Makes Merrill Lynch's Ponzi Oversight Punishment Fit The Crime
Brokerage firms that break the rules often rake in millions of dollars before the regulators assess a token fine. This time around, Merrill Lynch has to pay roughly what one of its brokers misappropriated from clients.
