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Don’t Rule Out the Top Guns

Understand the significance of top performers in the financial sector and why they should never be overlooked.

Don’t Rule Out the Top Guns

Regardless of the entities involved, the SEC demonstrates its unwavering determination. Wells Fargo recently faced significant consequences. The SEC brought charges against former Wells Fargo CEO and Chairman John G. Stumpf, as well as former head of Wells Fargo’s Community Bank, Carrie L. Tolstedt, for their involvement in deceiving investors regarding the success of the Community Bank, which serves as Wells Fargo’s primary operation. The SEC’s legal documents comprise both resolved allegations against Stumpf, who agreed to a $2.5 million penalty, and an ongoing litigation accusing Tolstedt of committing fraud. It is important to note that these actions are in addition to a prior settlement where Wells Fargo paid $500 million.

The SEC is standing strong behind its efforts to show the seriousness of false and misleading information. If executives speak about a key performance metric to promote their business, it must be done fully and accurately. The SEC is going to hold anyone affiliated in such activities responsible.  Starting at the top tier, the senior executives who make false and misleading statements down to those who certify to the accuracy of misleading statements despite warnings to the contrary.

Don’t think you float above or below the radar. The SEC has spent the past few years making big moves – big gains – big wins. Now, more than ever it is time to get your business in order. To make sure all the t’s are crossed and i’s are dotted, let us help you. We know your plate is full.

Schedule your free consultation today.


Author Bio

Leila Shaver is the Founder of My RIA Lawyer, a law firm that provides compliance and legal consulting for financial institutions. With extensive experience as a securities attorney and compliance expert, she has served as Chief Compliance Officer and General Counsel to RIAs, BDs, and TAMPs with billions in assets under management.

Leila understands the challenges RIAs face and is committed to helping RIAs streamline their processes, mitigate risks, and ensure compliance with regulatory requirements. She received her Juris Doctor from Atlanta’s John Marshall Law School and is a West Georgia Young Lawyers’ Association member. Leila has received numerous accolades for her work, including the Carroll County Bar Association’s Outstanding Young Lawyer Award in 2017.

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