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FinancialADVSR

Est. 2026The front page of wealth managementNew York

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Topic

Regulation

Fines, sanctions, arbitration and the rules landing on advisors’ desks.

Advisors answer to different regulators depending on how they are registered. The SEC oversees larger registered investment advisers, states generally oversee smaller ones, and FINRA, a self-regulatory organization overseen by the SEC, supervises broker-dealers and their registered representatives.

Enforcement actions, customer arbitration awards and new rules all shape how firms supervise advisors and how advisors evaluate firms. Records for individual brokers and advisers are publicly searchable through FINRA BrokerCheck and the SEC’s Investment Adviser Public Disclosure site.

Financial ADVSR reports enforcement and regulatory news carefully: allegations are labeled as allegations, and outcomes as outcomes.

From the Newsroom

Latest on regulation

Questions

What is the difference between the SEC and FINRA?

The SEC is the federal securities regulator and oversees registered investment advisers above certain size thresholds. FINRA is a self-regulatory organization, overseen by the SEC, that writes and enforces rules for broker-dealers and their registered representatives.

How can I look up an advisor’s record?

FINRA BrokerCheck covers brokers and broker-dealers; the SEC’s Investment Adviser Public Disclosure (IAPD) site covers investment advisers and their representatives. Both show registrations, employment history and disclosures.

What is FINRA arbitration?

The forum where most disputes between investors and brokerage firms, and between firms and their registered representatives, are resolved instead of in court.