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On Wednesday, the U.S. Court of Appeals for the Tenth Circuit denied the SEC’s request for a rehearing en banc in the case of Bandimere v SEC, thus confirming its earlier ruling that the SEC’s use of “non-appointed” Administrative Law Judges (“ALJs”) is unconstitutional. The SEC’s last avenue of appeal is by leave to the Supreme…
Mutual funds typically use fund assets to pay annual operating expenses, including management fees, administrative fees, and distribution costs. The cost to the investor is presented in the form of a ratio of annual operating expenses to assets under management, which is known as the expense ratio. Expense ratios can vary dramatically from…
Financial advisor Robert Hayes Hoffman (CRD# 4008798 / Indianapolis, IN) is named in a customer complaint involving allegations that he made unsuitable investment recommendations and engaged in churning and unauthorized trading in the customer’s account. Mr. Hoffman has two other disclosures on his online Brokercheck report, including another customer complaint involving…
Earlier this year, financial advisor Ernest Julius Romer III (CRD# 2311741) was discharged from his employment with Corecap Investments after the firm determined that he failed to report outside business activity and violated firm policies relating to transactions with clients. This is the fourth time that Mr. Romer has left…