SEC Charges Advisor in $3.9 Million Ponzi Scheme

On November 2,2018, the U.S. Securities and Exchange Commission charged a former registered representative and investment advisor with operating a long-running fraud and "Ponzi" scheme.  A Ponzi scheme, named after Charles Ponzi from the 1920s, is a form of fraud in which belief in the success of a nonexistent enterprise is fostered by the payment of quick … Continue reading SEC Charges Advisor in $3.9 Million Ponzi Scheme

Securities and Exchange Commission will Target Mutual Funds and ETFs in Exams

On November 8, 2018, the U.S. Securities and Exchange Commission announced a launching of a series of exam initiatives focused on mutual funds and exchange-traded funds (ETFs). The agency’s Office of Compliance Inspections and Examinations released a Risk Alert stating that the exams will focus on funds and/or advisors that fall into one or more … Continue reading Securities and Exchange Commission will Target Mutual Funds and ETFs in Exams