Reps allegedly took $1 million from an elderly client
New licensing regime approved, full compliance due by October 2027
Regulators seek boost in reporting thresholds to reduce small firm demands
Firms no longer qualify for narrower online advisor exemption
Arrangement could encourage more or riskier trades, critics say
Proposals out for 90-day comment period, final regime slated for Jan. 1, 2028
Regulator to explore market impact of private, restricted rating activity
Reforms seek to ease burden, impediments to short activity
Regulator looks to rebalance supervisory needs with costs, data privacy
Alleged scheme ended in double murder-suicide back in 2023