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With Democrats gaining steam, financial services ponder potential transaction taxes
Proponent say a levy on trades is harmless. Opponents call it a dangerous friction
Cases tied to Ray Lucia’s challenge of in-house SEC judges likely to settle for lighter punishments
Supreme Court ruled in 2018 that many enforcement actions should be reheard
401(k) arbitration agreements still not mandatory
Sponsors have interest in adding them to their retirement plan documents, but the courts are up in the air, lawyers said
SEC charges cryptocurrency app Abra with unregistered swap transactions
The startup allegedly offered security-based swaps to retail investors without registration
Lawmakers press Robinhood about investor protections on trading platform
Letter from Capitol Hill says the firm ‘must do better’ in the wake of the suicide of a user
New Hampshire investigating churning claims against Merrill brokers
Former governor says the firm, two former brokers were responsible for $50 million in losses
Wall Street benefits from Fed’s support for corporate debt
Fees for underwriting investment-grade bonds doubled in the first half
SEC proposes easing reporting requirements for funds
Funds would be required to report holdings quarterly if they have at least $3.5 billion of equities, up from the current threshold of $100 million
‘Lost and found’ 401(k) bill is good for the advice industry
While not exactly novel, the legislation is a sound first step toward getting Main Street investors the tools they need
Wawa settles ESOP lawsuit for $21.6 million
The agreement is separate from a $25 million settlement reached in a similar suit brought in 2016
Oklahoma pulls back Form CRS mandate for state-registered advisers
Rhode Island keeps its requirement on the books
Former RIA execs to pay $200,000 for misleading clients
Benjamin Alderson, the former CEO of deVere USA, also agrees to a permanent bar
House funding bill would halt SEC proposal to expand access to private markets
Democratic legislators want the agency to collect data on the impact of promoting unregistered securities
Where are the customers’ yachts? 2020 version
Should advisory firms take forgivable PPP loans when they didn't suffer any interruption in their revenue?
DOL urged to extend comment period for fiduciary proposal
Consumer and investor advocacy groups have asked Labor to provide more time for public input
CareerBuilder gets win in 401(k) lawsuit, others face new claims
Paychex, Astellas and Aon were recently sued, and the $12.4 million settlement in a Northrop Grumman suit has been held up
Finra officials delineate ‘good faith’ efforts to comply with Reg BI
Initial reviews will focus on whether firms have put in place policies, procedures and training
State regulators propose model rule for advisers’ written policies, procedures
The measure would cover supervision, cybersecurity and business continuity, among other areas
Why 2020 is a bad year to turn 60
COVID-related job losses this year could reduce Social Security benefits for millions of people born in 1960
Franklin Advisers, Franklin Templeton agree to SEC penalties of $325,000
The firms exceeded the 10% cap on a fund manager investing in another investment company