- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Jaclyn Jaeger2021-07-06T14:53:00
Charles Schwab disclosed in a regulatory filing it expects to pay $200 million to resolve a Securities and Exchange Commission investigation concerning its robo-advisory business.
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The Securities and Exchange Commission this week published information and guidance for investors and the financial services industry on the fast-growing use of robo-advisers. Jaclyn Jaeger has more.
Financial services firms’ offerings of digital investment advice—also known as ‘robo-advisers’—require sound governance and supervision, including effectively overseeing the suitability of recommendations, conflicts of interest, customer risk profiles, and portfolio rebalancing. That’s the warning in a new report released by the Financial Industry Regulatory Authority.
Canada’s anti-money laundering regulator fined Toronto-based real estate firm Jones Lang Lasalle $107,827 Canadian dollars ($77,632) for six violations of its anti-money laundering rules, after discovering gaps in recordkeeping and reporting requirements for know your customer rules.
VyStar credit union has agreed to pay a $1.5 million fine and make restitution to customers harmed by its alleged lack of due diligence when it launched a new banking platform, the Consumer Financial Protection Bureau (CFPB) said.
Meta disclosed in a public filing that an investigation by the Consumer Financial Protection Bureau related to financial product advertising on platforms Instagram and WhatsApp may lead to a lawsuit.
Two affiliates of JPMorgan Chase have agreed to pay $151 million to settle five separate enforcement actions for making misleading disclosures, breaching fiduciary duties, and other failures related to investors.
