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Advisors downplay prospects for debt default, comfort clients
They're confident that after some political theater over the next few months, lawmakers will reach an agreement to boost the debt limit because the consequences of not doing so would be catastrophic.
Fierce opponent of DOL fiduciary rule and defender of Reg BI to chair House subcommittee
Rep. Ann Wagner, R-Mo., will lead the House Financial Service Subcommittee on Capital Markets, which oversees the SEC and works on policies related to investor protection and capital formation.
State regulators urge Congress not to expand private securities markets
NASAA's policy agenda asks lawmakers not to erode state oversight of unregistered securities in the effort to bolster capital formation, warning of potential investor harm.
ESG themes to watch in 2023
Shareholder engagement, the energy transition and regulation will get a lot of attention.
JPMorgan accuses defector to Morgan Stanley of poaching clients
Joseph Michael, who had worked at a JPMorgan bank branch in Michigan, has already persuaded about 32 clients to begin transferring their accounts, according to a complaint filed in court.
House votes to repeal funding increase for IRS
The funding fight could be bargaining chip at the center of upcoming debates over raising the debt ceiling and funding the federal government.
Industry groups get creative to gain political influence
The FPA used Jan. 6 to rethink its approach. Other associations use various methods to be heard.
Finra keeps focus on Reg BI in 2023 exam report
In this year's report, the regulator also created a separate section under the heading of 'financial crimes,' which includes cybersecurity, anti-money laundering and manipulative trading.
Federal proposal to ban noncompete clauses could affect RIA M&A
If advisors who have less than a certain ownership threshold are free to leave an acquired firm, it could give buyers pause.
Smoothie-throwing broker under microscope for cash transactions
Finra has made a 'preliminary decision' to recommend some type of disciplinary action against James Iannazzo, according to BrokerCheck.
Gary Gensler’s SEC agenda faces steep GOP opposition
The GOP barely controls the House, but it's enough to allow the party to pressure the SEC chief to curb his agenda.
FTC proposes ban on noncompete contracts
The proposal would bar employers from entering into or enforcing such clauses and require companies to nullify any existing ones within six months.
Former Fidelity broker may revive career after arbitration win
Finra arbitrators split, 2-1, in awarding Ryan Sanghak Lee $500,000 for wrongful termination. They also changed the reason for his departure on his Form U5 and expunged a claim that was filed following his dismissal.
ESG has DOL’s blessing. Here’s what can happen next in 401(k)s
Target-date funds that are sustainable or responsible are fair game now for retirement plans, but there aren't many of them.
New regulatory agenda sets April, October deadlines for SEC ESG rules
The SEC also has custody and ETF regulations to tackle, while the Department of Labor continues work on the next iteration of an investment advice rule for retirement accounts.
James Lee begins term as 2023 FPA president
Lee plans to focus on advancing the FPA's mission of title protection for financial planners.
Finra proposes to Illuminate arbitrator selection process
The measure codifies Finra's practice for vetting arbitrators for conflicts of interest, and it requires a written explanation when a challenge to an arbitrator's seating is granted or denied.
How to scale and avoid disclosure violations using automation
The ever-growing number of items that compliance officers and teams must monitor has made tracking regulatory compliance disclosures more complicated than ever.
BlackRock, Citigroup among firms named as fossil-fuel boycotters by Kentucky
State legislation requires state entities to divest from firms on the list, with certain exceptions.
SEC meets strong industry resistance on advisor outsourcing proposal
Critics say the measure's due diligence and monitoring requirements for third-party providers of portfolio management and other services are unnecessary given advisors' fiduciary duty.
