Are you an informed investor? Expense Ratios

Tuesday, June 1, 2021

Categories: Investor Alert

Mutual funds and exchange traded funds (ETFs) offer investors a cost-efficient way to invest in professionally managed portfolios of securities. While it is often tempting to make a purchase based on a fund’s historical performance, informed investors know that past performance is no guarantee of future performance, and that they must review a fund’s prospectus, shareholder reports and portfolio holdings to see if the fund’s risk/return profile aligns with theirs. An informed investor will pay particular attention to a fund’s expense ratio, which, over time, can eat into a fund’s earnings significantly.

Fundrise Entities - Consent Order & Consent to Entry of Order

Friday, July 24, 2020

Categories: Enforcement Actions

LendingClub Corporation - Consent Order & Consent to Entry of Order

Tuesday, July 14, 2020

Categories: Enforcement Actions

Solium Financial Services LLC - Consent Order

Monday, June 22, 2020

Categories: Enforcement Actions

Notice Regarding Historical Financial Performance Representations During the COVID-19 Pandemic

Friday, June 19, 2020

BISMARCK, ND  (June 17, 2020) –  The Securities Department is issuing this notice to inform franchisors and their counsel that the Department will be following the guidance recently issued by the NASAA Franchise Project Group regarding historical financial performance representations (“FPRs”) in light of the fact that the COVID-19 pandemic has significantly impacted many franchise systems.


Monday, June 8, 2020

In the Matter of: Electronic Filing of Securities Registration Applications, Notice Filings, and Exemption Filings.

New Franchise Disclosure Handbook Available from NASAA

Monday, May 11, 2020

WASHINGTON, D.C. (May 8, 2020) – The North American Securities Administrators Association (NASAA) today announced the availability of a new publication designed to improve the quality of franchise disclosures.

The 366-page Franchise Disclosure Document Handbook: A Resource Guide for Preparing a Franchise Disclosure Document is a compilation of the various rules, commentaries, and guidance from the Federal Trade Commission and NASAA governing the preparation of Franchise Disclosure Documents.