What Did Your Brokerage Firm or Investment Adviser Do Wrong With GWG
Published On: October 3, 2016

According to a recent InvestmentNews article, the Securities and Exchange Commission (SEC) has stated that it will crack down on those firms that hire brokers with disciplinary histories. The SEC’s Office of Compliance Inspections and Examinations announced on Monday that it will pay particular attention to firms that hire advisers with rogue backgrounds to ensure that those brokers are being properly supervised. This new crackdown could make it more difficult for brokers with shady pasts to find work in the business. Firms are already required to have risk procedures in place, but this will make sure the firms can identify the potential harm, develop a plan to decrease risk and implement and carry out that plan. To do so, the SEC intends to conduct examinations of broker-dealers that employ or contract with supervised persons that have a history of disciplinary events. The exams will focus on evaluating the effectiveness of advisers’ compliance programs, supervisory oversight practices, and disclosures to clients and prospective clients, particularly relating to th

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