The SEC charged a non-U.S. multi-national financial institution with a large U.S. presence with violating federal securities laws by providing brokerage and investment advisory services to U.S. clients without registering with the SEC.

The company agreed to pay $196 million to settle charges that it established as many as 8,500 accounts containing an average of

In a recent formal disciplinary proceeding, FINRA reaffirmed member firms’ obligations to maintain adequate procedures for conducting due diligence on private placements, including the review of sales materials, and systems for monitoring suitability.  Sunset Financial Services, Inc. (“Sunset”) sold private placements of investment funds as an unaffiliated broker-dealer under Regulation D of the Securities