SEC-PR-2412-198 (Dec. 12, 2024) (SEC-PR-2412) SEC Charges Former Representative of Advisory Firm SeaCrest with Cherry-Picking – Firm settles SEC charges related to former employee’s misconduct Excerpt: Washington D.C., Dec. 12, 2024 — The Securities and Exchange Commission today charged Eric Cobb of South Carolina with engaging in a fraudulent scheme where he allocated profitable securities […]
Category: Investment Advisors
Investment Advisors play a crucial role in the financial industry by providing personalized guidance to clients regarding their investment strategies and financial goals. Their primary responsibilities include assessing clients’ financial needs, risk tolerance, and long-term objectives to develop tailored investment plans. They conduct thorough market research and analysis to recommend suitable investment products, such as stocks, bonds, and mutual funds, while also monitoring and adjusting portfolios based on market conditions and client circumstances. Crucially, investment advisors are bound by a Fiduciary Duty to act in their clients’ best interests, placing their needs above their own. This means prioritizing client interests, providing unbiased advice, and disclosing any potential conflicts of interest. Additionally, investment advisors are responsible for educating clients about investment options and strategies, ensuring compliance with regulatory requirements, and maintaining transparent communication regarding fees and performance. By fostering a trusting relationship, they help clients navigate the complexities of investing, ultimately aiming to enhance their financial well-being and achieve their desired outcomes.
♦ (SEC) (www.sec.gov) – “Regulation Best Interest“
♦ (SEC) (www.sec.gov) – “Investment Adviser Codes of Ethics“
♦ (SEC) (www.sec.gov) – “Electronic Filing for Investment Advisers on IARD“
♦ (SEC) (www.adviserinfo.gov) – “Investment Adviser Public Disclosure website“
SEC-PR-2412-194 (Dec. 11, 2024) (SEC-PR-2412) SEC Charges Three Individuals with Impersonating Financial Professionals in Fraud Scheme Targeting Retail Investors Excerpt: Washington D.C., Dec. 11, 2024 — The Securities and Exchange Commission today charged Chibuzo Augustine Onyeachonam, Stanley Chidubem Asiegbu, and Chukwuebuka Martin Nweke-Eze with fraud for impersonating legitimate securities brokers and investment advisers in an […]
SEC-PR-2024-179 (11-08-24) SEC Charges Invesco Advisers for Making Misleading Statements About Supposed Investment Considerations Excerpt: Washington D.C., Nov. 8, 2024 — The Securities and Exchange Commission today charged Invesco Advisers, Inc. for making misleading statements about the percentage of company-wide assets under management that integrated environmental, social, and governance (ESG) factors in investment decisions. The […]