Carlo di Florio

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  SEC Charges Advisor With LinkedIn Fraud, Issues Social Media Alerts

  By Melanie Waddell, AdvisorOne  |  January 4, 2012

  The SEC on Wednesday charged an Illinois-based advisor with offering to sell fictitious securities on LinkedIn, and the agency also released three alerts warning advisors of the risks advisory firms and investors face when using social media.

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  Where Are We Headed?

  By Les Abromovitz  |  January 1, 2012

  The ultimate compliance goal is to help ensure that everyone associated with an advisory firm acts ethically at all times.  Advisors and RIAs should do the right thing, even when regulators are not looking over their shoulders.

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  Do’s and Don’ts of Advisory Contracts

  By Les Abromovitz  |  January 1, 2012

  In preparation for a compliance exam, securities regulators typically will ask to see copies of an RIAs advisory agreements. An RIA must be able to produce requested contracts and the contracts must comply with applicable SEC or state rules.

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  SEC, FINRA Issue Joint Alert on BD Branch Inspections

  By Melanie Waddell, AdvisorOne  |  December 2, 2011

  The SEC's Office of Compliance Inspections and Examinations and FINRA issued on Wednesday a Risk Alert and a Regulatory Notice on broker-dealer branch inspections, and offered suggestions to help securities industry firms better perform this key supervisory function.

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  SEC Charges Three Advisors With Compliance Violations

  By Melanie Waddell, AdvisorOne  |  November 28, 2011

  The SEC on Monday charged three investment advisors for failing to put in place compliance procedures designed to prevent securities law violations.

• Internal Changes at SEC’s Exam Division

  By Melanie Waddell, AdvisorOne  |  November 28, 2011

  As uncertainty remains in the debate over whether an SRO should oversee advisors—and a new option of using outside auditors for advisor exams in lieu of an SRO was recently thrown into the mix—changes are afoot within the SEC’s exam division.

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  SEC Sees No Way to Adequately Examine Advisors, Senators Told

  By Melanie Waddell, AdvisorOne  |  November 16, 2011

  Carlo di Florio, director of the SEC's Office of Compliance Inspections and Examinations, said the agency “will not have sufficient capacity in the near or long term to conduct effective examinations of registered investment advisors with adequate frequency.”

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  Senate to Grill SEC Chiefs at Oversight Hearing

  By Melanie Waddell, AdvisorOne  |  November 10, 2011

  A Senate Banking Subcommittee plans to hold a hearing on Nov. 16 on management and structural reforms at the SEC, with Robert Khuzami and others facing off with the Senators.

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  SEC Names Legg Mason Exec the New Associate Director of Advisor Exams

  By Melanie Waddell, AdvisorOne  |  October 21, 2011

  The SEC announced on Friday that Andrew J. Bowden has been appointed an associate director to lead the National Investment Adviser/Investment Company Examination Program in the SEC’s Office of Compliance Inspections and Examinations.

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  SEC Cites Problems in Structured Securities Sales, Marketing

  By Marlene Y. Satter, AdvisorOne  |  July 28, 2011

  Procedures designed to protect retail investors from the purchase of unsuitable structured securities products might have been inadequate or missing, according to a report issued by SEC staff on Wednesday.