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Finra smacks Raymond James with $1.15 million penalty over compliance shortcomings
Raymond James Financial Services overlooked 'multiple red flags' related to the activities of two brokers, according to Finra.
Republicans, Democrats could agree on some adviser issues after midterm elections
There's some chance that members of both parties will want to open private markets to more ordinary investors.
Investment scams targeting the elderly surge, government agency reports
The Federal Trade Commission says older Americans lost $147 million in 2021, up 213% from 2020, with crypto rip-offs being a leading culprit.
Alaska slaps ‘adviser’ with $7.4 million in penalties
Garrett Elder and his Tycoon Trading firm also ordered to pay $7.4 million in restitution for issuing and selling unregistered securities.
IRS gives more clarity on how to report digital assets
In the 2022 tax form draft instructions, the agency explicitly says that digital assets include NFTs and virtual currencies.
Swamped by legal costs, broker-dealer files for bankruptcy protection
Atlanta-based Kalos Capital has been crushed by more than $9 million in legal fees and costs related to sales of GPB private placements.
House GOP uses SEC comment glitch to question agency’s agenda
Republicans on the House Financial Services Committee give a preview of the pressure they're likely to apply to SEC Chairman Gary Gensler if the party takes over the House in the midterm elections.
Lead broker-dealer seller of GWG L bonds sues its insurers
'No one is going to want to settle with broker-dealers over GWG claims until the bankruptcy is resolved,' an attorney said about the lawsuit filed by Emerson Equity.
SEC bars California adviser, imposes $400,000 penalty
The agency settles with Sacramento-based Keith Springer and his firm, Springer Investment Management, over fraud charges.
Financial industry must persuade determined DOL to protect independent-contractor advisers
The Department of Labor may not be inclined to change a proposal that would potentially upend the business model for independent broker-dealers and insurance agents.
Finra slaps $5,000 fine on ex-broker in first Reg BI enforcement action
The case demonstrates that Finra has more latitude to purse excessive trading violations, says a former head of enforcement.
SEC’s technical glitch won’t slow rulemaking, experts say
The SEC is extending the comment periods on 11 rulemaking proposals and one request for comment due to problems with the electronic comment form on the agency’s website.
Ben Bernanke, two colleagues awarded Nobel Prize in Economics
By honoring Bernanke, the prize committee have taken an unusual step of adding an actual practitioner of economics policy to their pantheon.
A marketing conundrum
Hitting the sweet spot between taking advantage of new marketing opportunities and staying in compliance with the SEC marketing rule will be a big challenge for advisers.
State regulators look to keep pace with SEC marketing rule
The North American Securities Administrators Association is working on a model rule that 'mirrors' the SEC regulation.
DOL set to finalize ESG rule for retirement plans
The final rule is coming out at a time when sustainable investing has become a political flashpoint.
Joe Biden lights up marijuana stocks
The presidential pardon for those with marijuana convictions was interpreted as a step toward federal decriminalization and sparked a rally in funds offering exposure to cannabis companies.
New ETFs would package best, worst of Jim Cramer’s stock picks
Tuttle Capital Management is seeking SEC approval to launch two active ETFs populated with the 'Mad Money' host's favorite stocks.
Finra moving to slimmed down headquarters in D.C.
The change will offer the regulator's employees a hybrid approach that combines in-office and remote work.
Colorado regulators mulling update to guidance on financial planning fees
Groups like XY Planning Network and the CFP Board view a document from the state's Division of Securities as undermining fee-for-service models.