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Cathie Wood predicts SEC will approve multiple bitcoin ETFs at once
The ARK Investment Management CEO backed away from her previous view that her firm's spot-bitcoin ETF would be the first to be approved.
Democratic bill would require spousal consent for 401(k) distributions
Legislation would extend spousal protections used in pensions to defined-contribution plans.
Navigating AI’s regulatory challenges
Like other technologies in the past, AI is bound to reshape the operations of the financial advice industry.
Bill to allow use of 529 funds for advisor credential courses gains more support
More certified financial planners will help more people make better decisions with their money, says advisor.
Galvin launches investigation into brokers’ use of AI
The Massachusetts Secretary of the Commonwealth sent letters to firms including JPMorgan and Morgan Stanley to learn how they are using AI with investors.
State regulators, PIABA continue to resist Finra’s plan for remote supervision
But LPL Financial, Fidelity back the idea of allowing supervisors to work from home, using technology to oversee reps, as they did during the pandemic.
GOP effort to curb ESG proves unsuccessful so far
'If you’re expecting any meaningful legislation to emerge from all the Republicans’ talking points, think again,' says Washington Research Group's John Miller.
ETF firms race to be first in line for ether futures
But demand for futures products, rather than spot ones, is a big question.
SEC bars another advisor involved in church scam
Scams involving members of a group such as a church, known as affinity frauds, pose perils for investors, one attorney notes.
Fitch downgrades US credit rating
In cutting its rating on US sovereign debt to AA from AAA, Fitch cited 'repeated debt limit standoffs and last-minute resolutions.'
Proposed wealth tax ‘sounds lovely’ but ‘doesn’t make any sense’
Financial advisors say a bill recently introduced in Congress sounds good but would be difficult to administer.
401(k) balances highlight major wealth gap, GAO says
State auto-IRAs and provisions of the Secure 2.0 Act could help, but there are numerous factors underlying wealth inequality.
SEC files charges in $1B ‘get rich’ crypto scheme and $12M fraud
A man and entities he controls have been charged for allegedly selling unregulated securities and for fraudulent use of some of the proceeds.
SEC charges New York rep with stealing $2.4M from elderly client
Charges 'about as serious as it gets' after advisor allegedly tricks client into signing a power of attorney to enable ripoff.
Another major bank/broker-dealer hit by SEC action
Big fine expected as the agency looks for another scalp.
Leap of faith sours for church members as SEC charges man in alleged $35M Ponzi
Many of the investors were elderly retirees who were members of the same church as the man charged.
Concerns percolate about how SEC’s AI proposal aligns with Reg BI
Proposal will be an 'additive regime' that gets layered on, according to lawyer.
Political uncertainty steering 401(k)s away from ESG
While about half of plan consultants and advisors recommend sustainability-themed investment options, employers are worried about legislative changes around ESG.
Edward Jones named in potential Canadian class action
Investors join nationwide law firm suit.
Playboy Race Team-linked financial advisor who defrauded NHL players in court again
Clients included Stanley Cup champions, other NHL stars.
