Accelerated enforcement actions and new rapid response techniques at the SEC are likely to be with us for the long-haul. By Paul Vorndran Despite mandatory telework and asset reallocations, 2020 was a record year for whistleblowers and financial remedy orders at the Securities and Exchange Commission, according to the Division of Enforcement 2020 Annual Report… Read more »
Jury trial dates in courts across Colorado are moving targets in 2021, with each district acting independently on when and where to get back to work. By Paul Vorndran. Governor Polis moved the state of Colorado from Level Red to Level Orange on the COVID-19 dial on January 4, 2021. As people began to move… Read more »
The SEC’s proposed order has implications for all sellers. While meant to open private capital markets and expand finder activities, the unintended consequence may be the blurring of the lines between finders and sellers, subjecting unwitting investment advisers and insurance producers to claims for unlicensed securities sales. By Paul Vorndran. Issued October 7, 2020, the… Read more »
The gray area, where “suitable” activities cross over to activities that are fiduciary in nature, is when disputes that drive consequential outcomes happen. By Paul Vorndran There is not always a bright-line test for determining when an individual’s activities cross the line from insurance producer to investment adviser, or when suitability crosses over to… Read more »
You may be liable for what you don’t know. The questions to ask before offering alternative investments to your clients.
If you are an adviser who sold these investments without knowledge that they were unlawful, or have received a notice from regulators, take steps to protect yourself and your retail clients. By Paul Vorndran The warnings issued by the SEC to investors about Ponzi schemes that prey on senior investors in 2018 remain true today… Read more »
The private equity firm GPB Capital Holdings LLC ongoing investigation for sales practices used in financing its acquisitions of automotive dealerships.
If you are an adviser who sold these investments without knowledge that they were unlawful, or have received a notice from regulators, take steps to protect yourself and your retail clients.
By Paul L. Vorndran Selling an annuity while advising investors about their securities investments will subject you to enforcement action by the Colorado Securities Commissioner. In the summer of 2018, the Colorado Securities Commissioner (Commissioner) adopted a rule which provides that an insurance agent who receives commissions from the sale of insurance products, where the… Read more »
(Originally published December 1, 2015) By Paul L. Vorndran Deciding upon whom to trust to deliver accurate and fair advice is an investor’s first difficult decision. In the investment world, a number of titles may be used by a professional offering various investments. But most of these are marketing tools issued by various organizations, and… Read more »