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Monthly Archives: June 2020

Department of Labor Unveils Proposed Exemption for Investment Advice Fiduciaries

The U.S. Department of Labor has released a new proposed class exemption that would allow investment advice fiduciaries to receive compensation for their advice....

XY Planning Network Considers Further Legal Challenges to SEC’s Regulation Best Interest

On Friday, the Second Circuit Court of Appeals rejected a lawsuit challenging the Securities and Exchange Commission’s Regulation Best Interest, which goes into effect...

Capital Square Closes on Construction Loan for Project-Specific Opportunity Zone Fund

Capital Square, a sponsor of tax-advantaged real estate investments, has secured a loan from M&T Bank to facilitate the construction of Scott’s Collection I,...

LPL Financial Recruits $530 Million Hybrid

LPL Financial LLC, the nation’s largest independent broker-dealer, has added Altoona, Wisconsin-based Bernicke Wealth Management to its broker-dealer and hybrid retail investment advisor custodial...

SEC Bars Former LPL Advisor Over Fake African Charity

The Securities and Exchange Commission has barred former LPL Financial broker Dain Stokes, who was terminated by the broker-dealer last August after the New...

BDCA Reinstates Distribution Reinvestment Program, Amends Share Repurchases

The board of Business Development Corporation of America, a non-traded business development company affiliated with Benefit Street Partners, has reinstated the company’s distribution reinvestment...

Urban Catalyst Opportunity Zone Fund Hires New Projects Director

Urban Catalyst, an opportunity zone fund focused on ground-up development projects in Silicon Valley, has hired Mike Walsh as a projects director to oversee...

Advisor Group Adds Reg BI Compliance Tools to Account Management Platform

Advisor Group, the nation's largest network of independent wealth management firms, has added new features to its digital client onboarding and account management platform...

SEC Accepts VEREIT Settlement Over Schorsch-Era Accounting Scandal

The Securities Exchange Commission has agreed to accept a settlement offer from Vereit Inc. (NYSE: VER), a publicly traded REIT formerly known as American...

Hartman Further Expands Sales Team with New Managing Director of Institutional Sales

Hartman, a sponsor of non-traded real estate investment trusts, has appointed Bernard (Ben) Vonderhaar II as managing director of institutional sales. Vonderhaar has more than...