MyComplianceOffice Blog

Financial Industry Regulatory Authority (FINRA) has fined Barclays Capital Inc. $1.3 million for systemic Order Audit Trail System (OATS) reporting violations and related supervisory failures.

The Securities and Exchange Commission (SEC) has fined a registered investment advisor that acts as a subadvisor to clients in various wrap fee programs $300,000. The SEC felt the firm, RiverFront Investment Group, violated Sections 207 and 204 of the Investment Advisers Act of 1940 and Rule 204-1(a) by making misleading disclosures in its Forms ADV and failing to prepare its customers for additional costs beyond the “wrap fees”.

On July 20, MyComplianceOffice co-hosted a joint Webinar with guest presenter, Timothy Goodwin of Blue River Partners. The presentation included topics such as fee and expense disclosure, misallocation of expenses and expense shifting.

For those unable to attend, we’ve compiled the highlights.

The US media is buzzing about the events in Cleveland at the Republican National Convention this week, covering speeches from Ted Cruz to Ivanka and Melania Trump. One of the biggest announcements out of the RNC? Mike Pence, the sitting Governor of Indiana,  will serve as Trump's running mate.

In 2015, the SEC reached a more than $30 million settlement with a financial firm concerning allegations that more than $17 million in expenses were misallocated. The charges outlined in the SEC order were among the most significant in the private equity industry to date.