In particular, the commission is looking for cases when advisors trade on behalf of clients without written disclosure and consent, or fail to process a trade on the most favorable terms for their clients,
"Thinking about a theme, I think we're looking at self-dealing issues in connection with the registered investment advisor space, so best execution type concerns and principal trading," Riewe said.
For the Asset Management Unit, worries about potential conflicts in the advisor space rank along with a number of other priorities, including scrutiny of the marketing and trading of micro-cap securities and the work of the newly created broker-dealer task force.
Riewe explained that
SENDING A MESSAGE
From White on down,
She cited the charges that the
By announcing those three cases, which were unrelated apart from the nature of the violations, together, the commission was aiming to put the industry on notice about its new enforcement approach.
"Because the custody rule is part of how we think about
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