News | 09.06.19
SEC Warns Advisors to Get Client Consent Before Trading from Own Accounts
In a new risk alert, the SEC's Office of Compliance Inspections and Examinations said it has noticed advisors engaging in principal trading without following the strict rules governing such transactions. Problems also have cropped up when advisors arrange trades between clients and affiliated brokers, known as agency cross-selling. "Advisors did not make the required written disclosures to the clients or obtain the required client consent," the risk alert states.
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