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Red Oak Blog

News that affects your business and ours.
 
November 12 2017
SEC Chairman Gives Speech on Governance & Transparency SEC Chairman Jay Clayton recently gave a speech at the PLI 49th Annual Institute on Securities Regulation, at the beginning of this month in New York. Chairman Clayton’s speech focused on governance and [...] Read more
November 5 2017
FINRA Brings Enforcement Action Against Wells Fargo Advisors Financial Network for Failure to Vet Volatility-Linked ETPs FINRA has censured Wells Fargo Advisors Financial Network (“Wells Fargo” and “the Firm”) and ordered more than $3 million in restitution over the firm’s failure to perform the due diligence regarding the suitability [...] Read more
October 15 2017
SEC Files Legal Complaint Against Adviser for Misappropriating Client Funds Near the end of September 2017, the Securities and Exchange Commission (“SEC” or the “Commission”) filed a complaint in the U.S. District Court for the Western District of New York, against an investment [...] Read more
October 15 2017
SEC Imposes Civil Penalty on Firm that Misrepresented Valuation Methods The SEC has imposed a $75,000 civil penalty against SIX Financial Information USA Inc. (“SFI”) for misrepresenting the methodology it used to value European OTC Call Options for its client. It should be [...] Read more
October 10 2017
SEC Announces Cyber Unit and Risk Strategy Task Force Recently, the Securities and Exchange Commission increased the Enforcement Division’s ability to protect investors with the creation of two new initiatives. The SEC created a Cyber Unit that will focus on targeting cyber-related [...] Read more