Wirehouse firms balked at the proposed enhancements to the most widely known professional mark for the industry, threatening to abandon their support for the designation.
New York-based brokerage Aegis Capital Corporation has agreed to pay $750,000 to the Securities and Exchange Commission as well as $550,000 to the Financial Industry Regulatory Authority over claims it ignored red flags on suspicious transactions involving low-priced securities. ...
Louisiana Financial Advisor Pleads Guilty to Defrauding Investors A financial advisor from Mandeville, La., pleaded guilty to stealing up to $1.5 million from his clients, NOLA.com reports. Ralph Willard Savoie, 70, defrauded investors for more than three years beginning in 2013. ...
Envestnet Launches Quick Start for Breakaway Advisors Envestnet's Tamarac reporting software for registered investment advsiors can now get any firm's portfolio management solution "up and running" within 30 days. Tamarac's new Quick Start offering is "especially beneficial for firms that need to scale as soon as possible and establish their business operations," Envestnet Tamarac President Stuart DePina said. ...
