Securities & Markets

Vanguard Marketing Corporation and Vanguard Group Consent Order

The Rhode Island Securities Division has entered into a consent order with Vanguard Marketing Corporation and The Vanguard Group, Inc. The order resolves an investigation into Vanguard's recommendation to lower investment minimums for certain funds, resulting in capital gains tax distributions to shareholders. Vanguard has agreed to the terms of the settlement.

TradeStation Crypto Inc. Consent Order Regarding Digital Asset Accounts

The Rhode Island Department of Business Regulation Securities Division issued a consent order against TradeStation Crypto, Inc. (TCI) concerning its digital asset accounts. TCI will pay $1,500,000 in settlement payments and cease offering unregistered securities.

Rhode Island Securities Division Consent Agreement with Strategic Financial LLC

The Rhode Island Securities Division has entered into a consent agreement with Strategic Financial LLC for violations of the Rhode Island Uniform Securities Act. The firm will pay a $3,000 penalty for conducting business without proper registration as an investment adviser in the state.

Thomas A. Vigil - Consent Agreement

The State of Rhode Island Securities Division has entered into a consent agreement with Thomas A. Vigil. The agreement addresses alleged violations of securities regulations, including unregistered securities and unlicensed activity. Specific sanctions and undertakings are outlined.

New Mexico Joins $106M Vanguard Settlement for Tax Disclosure Failures

New Mexico announced it is joining a $106 million settlement with Vanguard Marketing Corporation and The Vanguard Group, Inc. The settlement resolves allegations that Vanguard failed to supervise registered persons and did not disclose potential tax consequences to investors following changes to retirement fund investment minimums. The SEC will administer remediation payments to impacted New Mexico investors.

Safeguard Metals Liable for $51.2M Fraud Against 450 Investors

Safeguard Metals LLC and its owner Jeffrey Ikahn have been ordered to pay $51.2 million in restitution and penalties for defrauding 450 elderly investors nationwide in a precious metals scheme. The judgment includes $25.6 million in restitution to victims and an equal monetary penalty split between the CFTC and 30 state regulators.

New Mexico Joins $19M Multistate Settlement Over Excessive Commissions

New Mexico has joined a multistate $19 million settlement with Edward Jones, LPL Financial, RBC, Stifel, and TD Ameritrade for charging excessive commissions on small-dollar equity transactions. The firms will provide restitution to affected customers and pay $175,000 to New Mexico.

New Mexico Securities Division Warns of Holiday Scams

The New Mexico Securities Division has issued a warning about sophisticated holiday scams targeting investors. The notice highlights emerging threats such as AI-driven impersonations, crypto fraud, and social media lures, drawing on data from the North American Securities Administrators Association's 2025 Enforcement Report.

Edward Jones Multistate Settlement for Supervisory Failures

The New Mexico Securities Division joined a $17 million multistate settlement with Edward Jones over supervisory failures related to charging front-load commissions on Class A mutual fund shares and subsequent movement to fee-based advisory accounts. Edward Jones will pay approximately $320,000 to each of the 50 states, D.C., and territories.

Illinois Securities Administrative Actions Search Tool

The Illinois Securities Department has launched a new administrative actions search tool, currently under development. The tool allows users to search for actions from 2003 to the present, with additional years to be added. Contact information for the department is provided for further assistance.