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Bitwise files for bitcoin futures ETF despite crypto woes
The Bitcoin Strategy Optimum Yield ETF would offer managed exposure to bitcoin futures contracts traded on the CME and investments in short-term debt securities.
DOL turns its focus to next iteration of investment advice reg
Now that the agency has finalized the ESG rule, it's likely to cast a wider net to establish who has a fiduciary duty to retirement savers. A new deadline is pending.
Are semitransparent ETFs inadvertently creating a market for fully transparent ETFs?
After nearly a decade of fighting for regulatory approval of semitransparent ETFs, the asset management industry is realizing what investors really want.
Finra spanks Morgan Stanley over sales of high-risk stocks
The Finra penalty included a fine of $200,000 and restitution to clients of $498,000 plus interest.
Goldman Sachs to pay $4 million SEC penalty in ESG fund case
The regulator claims Goldman's asset management unit failed to properly weigh environmental, social and governance factors in some investment products.
DOL’s final ESG rule puts an end to Trump administration restrictions
The new rule frees retirement plan advisers to incorporate risk and return factors associated with climate change and other ESG investment alternatives.
Sen. Tester concerned about impact of SEC climate rules on farmers
The Montana Democrat's pushback gives a bipartisan tenor to ESG skepticism that so far has been voiced loudly by Republicans.
Financial firms, lobbying organizations urge Congress to vote on SECURE 2.0
Provisions such as raising the RMD age and expanding workplace retirement coverage, which have been approved by the House and by Senate committees, must be rolled into one bill and enacted before year-end.
Colorado revisions to financial planning guide don’t quiet a critic
The state is concerned that fee-for-service financial planners aren't aligning their charges with work done for clients. Michael Kitces said the guidance remains biased toward the AUM model.
Lawmakers, Finra increase scrutiny of cryptocurrency
The regulator has launched an exam sweep of brokerages' communications with customers about digital assets, while the House Financial Services Committee plans to hold a hearing on the FTX bankruptcy.
Lame-duck Congress eyes $100 billion tax-cut package
Republicans want tax breaks for private equity, manufacturers and businesses, while Democrats want to expand the child tax credit.
SEC officials tell advisers to put clients’ interests first, tell truth in ads
A seminar offers some insight into what the agency is looking for in firms' compliance with Reg BI and the marketing rule.
SEC collects record penalties in FY 2022 enforcement actions
'This past fiscal year, we sought to recalibrate penalties to more effectively promote deterrence,' said SEC enforcement director Gurbir Grewal.
Crypto space braces for double-edged sword of regulatory oversight in FTX’s wake
While some claim more regulatory clarity could have helped prevent an event like the FTX collapse, others argue new rules take time and might not be what investors are hoping for.
S&P to pay $2.5 million to settle SEC conflict-of-interest charges
The securities watchdog’s order asserted that the rating of a mortgage-backed security deal in 2017 was at issue.
Demand for alternative investments points to major portfolio reallocations
Changing regulations are combining with technology to potentially push $10 trillion into alt strategies by 2030.
CFP Board seeks time limit on reinstating suspended mark
The organization is continuing to update its enforcement procedures to align with the revised code of conduct that went into force in 2020.
FTX collapse fails to derail investments into crypto funds
Crypto bulls see the sell-off as a buying opportunity and distinguish the offshore platform from regulated funds and U.S.-based platforms.
SEC exams director reticent about how agency will probe marketing rule
But a former SEC official told the audience at the ComplyConnect conference in Austin not to expect the agency to be lenient in initial exams.
SEC bars adviser already sentenced to 6 years in prison
Martin A. Ruiz took $8 million of client money and spent the vast majority of the funds on personal expenses.
