The increased demands placed on chief compliance officers in a volatile market are creating regulatory risks that threaten to 'trickle up' to executives and boards.
Thoroughbred Financial Services said the loan would be used to support payroll and other expenses allowed under the program's guidelines, according to the firm's updated Form ADV.
Ohio-based Wealthquest said it hoped to use the loan to retain its staff and fund payroll costs and health and insurance benefits for employees, according to an updated Form ADV submitted to the SEC.
Both Crestone Asset Management and IPG Investment Advisors cited the economic impact of COVID-19's spread, and disclosed the loans in newly updated Forms ADV submitted to the SEC.
During these times of social distancing, declining revenues, and custodians changing hands, merging or going out of business, join us for an insightful discussion with industry technology leaders to learn how top advisors are responding.
