Key Points On May 13, 2024, the U.S. Securities and Exchange Commission (“SEC”) and the U.S. Department of the Treasury's Financial Crimes Enforcement Network (FinCEN) proposed new requirements for investment advisers to enhance anti-money laundering efforts. The proposed rule would require investment advisers to establish and implement anti-money laundering programs to detect and report suspicious activity.
The RIA giant is tapping alums of LPL, Osaic, Commonwealth, and TD Ameritrade in a ramped-up bid to support advisors' evolving needs. Spectrum Investment Advisors is thrilled to announce the exciting three additions to our firm. Spectrum continues to grow and expand its capabilities to better serve its clients and meet their evolving needs.
This action highlights the need for investment advisers to exercise caution when contemplating any situation in which legal fees will be paid. Investment advisers must ensure that they are complying with all regulatory requirements and acting in the best interests of their clients at all times.
A Southampton investment adviser was convicted Thursday of defrauding two clients out of more than $1 million and using the money to pay off personal debts. This case serves as a reminder of the importance of conducting thorough due diligence on investment advisers and monitoring their activities closely.
ERISA experts from Faegre Drinker Biddle & Reath provide guidance to registered investment advisers on the DOL's new Retirement Security Initiative. Investment advisers must stay informed about regulatory changes and take proactive steps to ensure compliance with all applicable laws and regulations.
Simplify Asset Management Inc. (“SAMI”) announces that Simplify EQLS LLC (the “New Manager') will assume the role as the investment advisor of EQLS. This transition will bring new expertise and capabilities to EQLS, enhancing its investment strategies and client service offerings.
DALLAS, May 16, 2024 (GLOBE NEWSWIRE) -- Avantax® Inc., a leader in tax-focused financial planning and wealth management, has acquired GA. This acquisition will strengthen Avantax's position in the market and expand its range of services for clients.
By AML Intelligence Correspondents. THE SEC and FinCEN today (Mon) proposed requiring investment advisers (RIAs) and exempt reporting. The proposed requirements aim to enhance the detection and reporting of suspicious activity and improve anti-money laundering efforts in the investment advisory industry.
