Know News

Know News

is a curated selection of the latest news and views from leading sources in the compliance industry, as well as what's going on at Patrina.

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Know News Archives
March 4, 2021

Poor supervisory procedures cost LPL Financial LLC $6.5M

LPL Financial Services LLC has agreed to pay the Financial Industry Regulatory Authority (FINRA) $6,500,000 in response to an AWC censuring and fining the firm. In […]
February 24, 2021

What’s FINRA looking for this year?

What’s the Financial Industry Regulatory Authority (FINRA) looking at this year? Much of the same, according to the recently released Risk Monitoring and Examination Activities Report. […]
February 18, 2021

Can advisors save clients from romantic scammers?

This is a case of a wealth advisor doing the right thing for a client by delivering bad news. In a story reported by Joh Kador […]
February 10, 2021

$1.7 billion Ponzi-like scheme defrauds 17K-plus retail investors

Forget about GameStop and Redditt. This week, the Securities and Exchange Commission (SEC) charged three individuals and their affiliated entities with running a Ponzi-like scheme that […]
February 4, 2021

CFP Board Reviews Sanction Guidelines

Writing recently in Wealth Management magazine, Patrick Donachie reported that a new commission established by the Certified Financial Planner Board of Standards (CFP) will reexamine the […]
January 27, 2021

Is there a common theme in financial statement fraud schemes?

Is there a common theme among financial statement fraud schemes? Maybe according to the Anti-Fraud Collaboration (AFC), which issued a study this month to classify common […]
January 20, 2021

Unregistered Broker’s Assets Frozen by SEC

In a complaint unsealed just last week, the Securities and Exchange Commission (SEC) charged Justin Robert King and his advisory firm Elevate Investments, LLC with ongoing […]
January 13, 2021

SEC unveils new marketing rule for Investment Advisers

‘Twas three nights before Christmas and all through the house…WAIT!!! While you may have been out celebrating the holiday week and preparing to ring in a […]