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House panel pushes repeal of DOL independent contractor rule
Committee votes 21-13 to undo the contentious DOL regulation, paving the way for the measure to be considered by the full House.
Investing in precious metals may not be so safe, regulators warn
Joint effort by CFTC, NASAA and Finra flags risks and potential fraud, including common falsehoods and scams aimed at IRA investors.
Finra bars former ETrade employee
The former rep refused to cooperate with an investigation alleging that he transferred funds from a client account without authorization
Social Security backs off tough stance on recouping overpayments
Commissioner Martin O'Malley, in his early days on the job, said that practices will change next week.
Republicans propose raising retirement age
The proposal sets the stage for an election-year fight with President Biden, who accused the GOP of going after entitlement programs during his State of the Union address.
Fed still looking at 3 rate cuts in 2024, but sees fewer next year
Policymakers now see just three rate reductions in 2025, down from the four they forecast in December, following a recent uptick in inflation.
Bank customers are concerned about overregulation: ABA report
A banking industry survey reveals a high satisfaction with financial institutions.
Industry groups accuse SEC of trying to ‘vastly expand its authority’ over dealer rule
Three associations say investors will lose out from expanded dealer definitions.
Finra fines M1 Finance in landmark social media enforcement
The regulator hands down a $850,000 penalty after finding noncompliant promotional messages from M1's finfluencer army.
Texas anti-ESG laws costing state more than $700M, study says
The restrictions have negative economic consequences, according to research supported by business groups.
SEC sues two firms over bogus AI claims
Delphia and Global Predictions both made 'false and misleading statements' about their use of artificial intelligence, the SEC says.
Osaic, Securities America fined by Finra over cybersecurity
The regulator fined the firms $150,000 each for failures related to protecting thousands of clients’ private information and cybersecurity gaffes.
JPMorgan fined $348M for falling short on trading surveillance
The firm's trade-surveillance program has operated with certain deficiencies since at least 2019, according to the OCC.
New Hampshire bars former Next Financial broker
The broker and Next Financial Group Inc. are on the hook for more than $1 million in penalties.
Hedge funds, PE firms discussing ways to deal with SEC messaging crackdown
Citadel, KKR & Co. and Blackstone Inc. are among the firms that have been talking about strategies to blunt SEC penalties related to the use of messaging apps.
Biden’s budget targets backdoor Roths and $10M retirement accounts
The proposed budget seeks to increase taxes for corporations and the wealthy.
Finra fines spike 63% in 2023: Report
'Last year saw bigger Finra fines per case,' a lawyer says. 'Supersized fines, or those of $1 million or more, were up, and mega-sized fines, or those of $5 million and more, increased too.'
Expect a stronger, more lawsuit-proof fiduciary rule very soon
With the final version of the rule now at the Office of Management and Budget, it won't be long before it's published. Don't expect a lot of changes, lawyers say.
Former Wells Fargo indie broker is barred by Finra
The broker, Jayson Pocius, was 'discharged' last year from Wells Fargo Advisors Financial Network.
Biden’s budget proposal would hike taxes on investors, businesses
The president wants to raise the capital gains tax rate to a base of 39.6 percent, up from 20 percent, and establish a minimum tax rate of 25 percent on households worth at least $100 million.