The SEC sued a prominent financial adviser.

Richard M. Silverstein, who was named 1983 Certified Financial Planner of the Year by the Institute of Certified Financial Planners, was accused of fraudulent conduct as a registered investment adviser. Without admitting the allegations, Silverstein consented to entry of a permanent injunction in U.S. District Court in Los Angeles, barring use of any fraudulent device in limited partnership investments by him or his Los Angeles-based Silverstein Financial Services.