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SEC fines Deutsche Bank subsidiary $19M for not keeping ESG promises
'The industry deserves to have the scrutiny that’s being placed on it,' says Ethan Powell, founder and CEO of Impact Shares.
Handcuffed by marketing inertia?
As the SEC marketing rule nears its first anniversary, most firms have yet to take advantage of the testimonials and endorsements it allows.
SEC exam sweep short but not sweet
Instead of generating anxiety among advisors, sweep contains no hidden surprises, says compliance expert.
XY Planning’s smaller advisors envy larger firms’ marketing latitude
'We see a lot of angst from advisors that are frustrated that the federal [SEC] firms get to' use client testimonials and reviews in advertising 'but they can’t do it in their state,' says XYPN co-founder Michael Kitces.
Climate Week’s biggest news wasn’t part of Climate Week
Major regulations and legislation made headlines, and big asset managers faced protests over fossil fuels.
SEC penalizes small Wisconsin B-D $50,000 over Reg BI faults
Carl M. Hennig Inc. has 10 registered reps and about $1.3 billion in client assets.
Political clock ticks as Labor readies next version of fiduciary rule
The measure is likely to make a rollover recommendation a fiduciary act. But if the agency doesn't complete the measure soon, it's vulnerable to being overturned by the next Congress and White House.
New strategy in 401(k) litigation: Ask for settlement before suit is filed
Law firm Lieff Cabraser is reportedly busy sending letters to plan sponsors.
SEC expands rule to ensure fund portfolios match their names
The final regulation targets 'greenwashing' but strips out what would have been 'a more onerous' ESG provision, a lawyer says.
Bipartisan House members press SEC official to drop mutual fund reform proposal
Lawmakers say changes would hurt retirement investors. They also raise concerns about a proposal to curb advisor conflicts related to AI.
Morgan Stanley sued for $750M by private equity firms claiming fraud
The disputed deal involved a loan to Miami-based Brightline Holdings, which is developing a high-speed rail line between Los Angeles and Las Vegas.
Wealthy tax dodgers targeted by IRS new agent hires
Tax officials will focus on high earners and corporations that are not paying their fair share.
SEC regulations give ‘short shrift’ to potential cost for small advisors
Investment Adviser Association files petition pushing agency to make number of staff, not AUM, the deciding factor in defining a firm as 'small.'
State regulators continue to oppose Finra remote supervision pilot program
Over nearly three years 'our branch examiners have refined their skills and become very adept at identifying risk remotely,' insists LPL Financial.
New leader of state regulators places emphasis on ‘risky’ digital assets
Hodgepodge of different regulations needs addressing, says securities lawyer.
Love it or hate it, climate reporting may be inevitable
Legislation in California that will likely become law goes much farther than an SEC proposal on emissions reporting for public companies.
U.S. lags globally on retirement due to health, quality of life issues
Academics suggest improvements to the savings system and restoring the solvency of Social Security.
SEC Chair Gensler fires back at GOP critics
Leader accused of proposing regulations that are ‘sowing discord and confusion.'
SEC hits YieldStreet with $1.9M penalty linked to shipping investment
YieldStreet failed to disclose heightened risk, according to the SEC.
California gets ahead of SEC in forcing firms’ carbon disclosure
Golden State’s proposal will force corporations to make carbon emissions public.
