Broker-Dealers

/Broker-Dealers

BB&T Subsidiary Must Pay $5.7 Million After Policy Violations

BB&T Subsidiary Must Pay $5.7 Million After Policy Violations WHAT HAPPENED? On March 5, 2019, the U.S. Securities and Exchange Commission ordered BB&T Securities to pay $5.7 million following Valley Forge Asset Management’s intentional overcharging of clients. The undue charges occurred from 2013 to 2016 and involved requiring clients [...]

SEC Charges Dual Registrant with Deficient Compliance Infrastructure

SEC Charges Dual Registrant with Deficient Compliance Infrastructure WHAT HAPPENED? On December 12th, 2018, the Securities and Exchange Commission (the “SEC”) released an Administrative Order to Cease and Desist against a dually registered investment adviser/broker-dealer and its sole principal (collectively, the “Adviser”).  The SEC sanctioned these individuals for violations [...]

SEC Proposed Regulation Best Interest: Its Impact on Broker-Dealers

SEC Proposed Regulation Best Interest: Its Impact on Broker-Dealers WHAT HAPPENED? On April 18th, the Securities and Exchange Commission (SEC) voted on a proposal known as Regulation Best Interest, a set of rules and interpretations intended to improve the quality and transparency of investors’ relationships with investment advisers and [...]