In remarks looking toward her upcoming departure from the SEC, Commissioner Peirce spoke of why US capital markets inspire people globally to raise money and invest in the US.
IAA 1940 Rule 206(4)-8
After reviewing a recent case, Janaya Moscony offers lessons learned and explains why this matters for advisers.
Reported charges included selling pre-IPO shares the defendants did not possess, undisclosed fees, and mixing investor funds.
Enforcement
Premium
SEC whips out final orders for violations grounded in supervisory, oversight lapses
Final settlement orders announced last week include those against firms for infractions often based in compliance program lapses.
The SEC said the company represented to private fund investors that the firm was voluntarily complying with AML due diligence laws despite actual processes for same being used.
Enforcement
Premium
SEC charges ESG RIA WisdomTree over inadvertent tobacco, fossil fuel investments
The charges arise from prospectuses stating that the company would exclude ESG-negative industries from its investments.
The SEC said the business also favored certain advisory clients when directing and executing cross trades, in violation of its fiduciary duty.
Enforcement actions addressed a failure to develop a mutual fund AML programme along with misstatements in its ESG investment process.