First Horizon Advisors Faces SEC Reg BI Penalty, Underlining Compliance Importance
Wednesday, 18 September 2024, 14:31
First Horizon Advisors Settlement Explained
First Horizon Advisors recently faced scrutiny from the SEC over Reg BI (Regulation Best Interest) violations related to their recommendations of structured notes. As a result, the firm is set to pay a $325K civil penalty to settle these charges. This incident serves as a pivotal reminder of the importance of compliance within the financial sector.
Key Implications for Financial Advisors
- Emphasizes the necessity for strict adherence to SEC regulations.
- Highlights potential consequences of non-compliance.
- Encourages transparency in investment recommendations.
This settlement not only affects First Horizon but also sends a clear message across the industry regarding the significance of compliance to protect investors’ interests.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.