SEC Actions

Canton Hathaway failed to comply with the Requirements by its regulatory deadlines, and began complying only after the Division of Examinations (“EXAMS”) contacted the firm ...

Nearly two-thirds of the examined advisers received staff-issued deficiency letters, which addressed the staff’s observations regarding a variety of topics. However, the vast majority of ...

Advisers did not monitor the trading activity in clients’ accounts or their monitoring activities were ineffective

UBS lacked any procedure for regularly auditing the system to determine whether it continued to detect violations of the PMP Investment Guidelines

In September 2019, after being contacted by Commission staff, Cascade began rebating 12b-1 fees to clients going forward. Cascade has also reimbursed to clients all ...

In 2014, an internal compliance report raised concerns that the incentive compensation structure was significantly affecting WMAs’ behavior, causing them to focus on recommending managed ...

As an investment adviser, Kestra PWS was obligated to disclose all material facts to its advisory clients, including any conflicts of interest between itself or ...

To meet this fiduciary obligation, Kestra AS was required to provide its advisory clients with full and fair disclosure that was sufficiently specific so that ...

Hilltop failed reasonably to supervise the municipal securities activities of its registered representative to ensure compliance with MSRB rules and the federal securities laws. As ...

St. Germain Securities received over $1.4 million in cash sweep revenue payments related to client cash balances. This revenue sharing was at least as much ...