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Extracting Actionable Takeaways From The SEC’s Staff Bulletin Regarding An RIA’s Standard Of Care

Nerd's Eye View

In 2019, the SEC released a Commission Interpretation that separated the obligation of RIAs to act in their clients' best interests into separate duties of care (to provide investment advice in the best interest of the client) and loyalty (to eliminate or disclose all potential conflicts of interest with the client).

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Sunday links: too many theories

Abnormal Returns

Sentencing Commission show judges rejected more than 80% of compassionate release requests filed from October 2019 through September 2022. (morningstar.com) Medical debt plays a big role in why the South has lower credit ratings on average. washingtonpost.com) Urban areas can't grow without new housing.

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Two Associates of FTX Founder SBF Plead Guilty to Criminal Charges

Mish Talk

The Securities and Exchange Commission and Commodity Futures Trading Commission also sued Ms. Ellison, from 2019 to 2022, manipulated the price of FTT, a digital asset that FTX issued. Ellison and Mr. Wang, alleging they committed civil securities and commodities fraud. The SEC said Ms.

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: SEC charges crypto exchange Bittrex and former CEO with flouting securities laws

MarketWatch

Securities and Exchange Commission on Monday charged crypto trading platform Bittrex Inc. investors as a broker, exchange and clearing agency without registering these activities with the Commission, in violation of the law. The SEC alleged that Bittrex earned at least $1.3 billion in revenue between 2017 and 2022 serving U.S.

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How to Find a Fiduciary Financial Advisor

Darrow Wealth Management

Advisors that receive commissions from selling mutual funds, insurance, annuities, or other products are incentivized to push products, leaving less time for advice. In 2019, the CFP board announced CFP® professionals must adhere to a fiduciary duty when providing investment advice.

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Fiduciary Papers #7: What Steps are Required to Properly Manage a Conflict of Interest Held by An Investment Adviser?

Ron A. Rhodes

While the SEC has provided an interpretative release [SEC Release IA-5248, Commission Interpretation Regarding Standard of Conduct for Investment Advisers (July 12, 2019)] regarding the fiduciary duties of investment advisers,…

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: Meta Platforms asks federal court to halt further FTC restrictions: WSJ

MarketWatch

district court to halt efforts by the Federal Trade Commission to apply further restrictions on the social-media platform, after the agency alleged that the company had run afoul of a $5 billion 2019 privacy settlement, according to the Wall Street Journal. Meta Platforms Inc. META has asked a U.S.