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Global regulators want to bolster hedge fund protections
Proposals would help funds cope with market stress.
Empower settles with former advisors in poaching case
The suit involved 13 advisors, all of whom joined Empower via its acquisition of Personal Capital, who departed to establish a rival advisory firm.
OMB draws flak on DOL fiduciary rule decision
Industry groups express disappointment at the Office of Management and Budget's speedy review of the controversial rule.
Five firms hit in SEC marketing rule sweep
The regulator’s crackdown centered on the firms' use of hypothetical performance data and led to a total of $200,000 in penalties.
Morgan Stanley’s wealth unit caught in AML crossfire
The SEC and other federal regulators are reportedly probing the banking giant over its anti-money-laundering and client vetting practices.
Don’t repeat 2016 fiduciary rule mistake, NAIFA urges DOL
'Real-world experience' shows impact of fiduciary standard on Main Street investors, advisor association warns.
UBS could face higher capital rules under Swiss reforms
The bank's shares fell on the news that the government wants systemically important Swiss banks to hold significantly more capital against foreign units.
Saver’s Match provides big incentive for 401(k) contributions
A new survey builds on research showing the provision's potential reach and effect on retirement security.
West Virginia stops banking with Citi, Northern Trust, over fossil fuels
The state treasurer added four financial services firms to a list of those ineligible to provide banking services to the state because he says they 'boycott' the fossil fuels industry.
Florida broker-dealer faces $500k fine over texting violations
Finra finds years of compliance shortfalls at Dawson James Securities involving more than 10,000 text messages, including inadequate system for private placements.
Commonwealth case sends crystal-clear message
KO blow from the SEC offers pointed lesson: Don’t fight Uncle Sam
Finra caught up in email phishing scheme
A new cybersecurity alert warns member firms to be wary of fraudulent messages impersonating key members of the regulator’s leadership.
SEC seeks input on spot ether ETFs, whose future is hardly certain
The SEC could put extra scrutiny on products that benefit from ether's proof-of-stake consensus mechanism, although most ETF applicants may not get the staking benefits in their funds.
Texting employees land RIA with $6.5M SEC fine
Multiple incidents of using personal text communications were discovered.
Elderly client suing JPMorgan over investment losses faces court setback
The client and his wife sued over investments that they allege should not have been allowed and that ended up wiping out much of a fortune once pegged at more than $50 million.
ARA, Ceres throw support behind DOL ESG rule for 401(k)s
The two nonprofits are urging the Court of Appeals to uphold a lower court decision supporting a 'middle-of-the-road' approach for fiduciaries.
DOL limits companies with foreign convictions from managing 401(k) assets
The regulator for years has granted exemptions for financial institutions whose affiliates have been convicted of financial crimes overseas.
SEC tightens rules on robo-advisor registration
The rule revamp fills a gap in an early-2000s exemption that let investment advisors use websites as ‘props,’ says SEC Chair Gary Gensler.
Are 401(k)s the ultimate retirement plan?
Advisors weigh in on the impact the DOL’s retirement security rule will have on 401(k) plans and retirement.
Bankman-Fried gets 25 years in prison for FTX fraud
'There is a risk that this man will be in a position to do something very bad in the future,' the judge says. 'And it’s not a trivial risk. Not a trivial risk at all.'
