Displaying 10210 results
SEC orders TIAA to pay $2.2M for violating Reg BI
Disclosure failures at the organization’s broker-dealer arm led to nearly $1 million in unnecessary costs for retail customers in IRAs.
SEC fines VanEck $1.75M over ETF finfluencer promotion
While the SEC doesn't name the influencer, Dave Portnoy, founder of the website Barstool Sports, partnered with VanEck during the fund's launch.
DOL retirement security rule would be ‘disastrous,’ GOP rep says
Democrats at a House hearing say the retirement rule will ensure workers, retirees and retirement plan sponsors receive advice that is in their best interest.
Wells Fargo consent order for fake accounts ended by OCC
While the consent order has been lifted, Wells Fargo still has a cap on its growth imposed by the Federal Reserve.
Ex-Osaic veteran advisor barred by Finra
'A lawyer may tell an advisor like this, there's no upside in responding to Finra, just leave the industry,' says a senior brokerage executive.
Finra fines Morgan Stanley $1.6M over muni transaction shortfalls
Broker-dealer self-regulator finds pattern of gross supervisory failure involving municipal securities over a five-year period.
Treasury proposes anti-money laundering rule for financial advisors
Should advisors receive a cash prize for catching potential money launderers?
SEC’s Gensler cautions against overblown claims about AI
The SEC chair warned companies against 'AI washing' when they talk to investors about their use of the technology.
EBSA reports $1.4B recovery haul from 2023 enforcement actions
The DOL unit closed nearly 200 criminal investigations and recovered more than $840 million through formal enforcement actions.
Ex-Oppenheimer advisor sentenced to 8 years for $50M Ponzi scheme
The disgraced advisor fleeced more than 400 investors in a fraudulent 'private equity' fund over a 13-year period.
FPA, CFP Board diverge on DOL investment advice proposal
While the CFP Board supports the proposal, the FPA has expressed concerns about the DOL rule potentially raising compliance costs for members, increasing the cost of advice and reducing access to advice for some.
Bill chips away at SALT block but comes with drawbacks, advisors say
'I’d love to see the [full] SALT deduction come back but not if it means rates go up,' one advisor says.
SEC approves rule requiring hedge fund strategy disclosures
Funds will be required to share more information with regulators.
Retirement plan administrator accused of stealing millions
EBSA found that the third-party administrator embezzled at least $5.5 million in retirement plan assets.
Bitcoin miners claim US ‘abuse of authority’ over energy data
The industry faces scrutiny over high use of energy to mine cryptocurrency.
Former Morgan Stanley broker running for office reviewing $147K award
Deborah Adeimy claimed firm blocked her from running in GOP primary, aide says 'we're unclear how award figure was calculated.'
Congress takes another shot at federal auto IRA
Since the auto IRA was proposed 18 years ago, the only successful efforts have been in the states.
GOP bill to kill SEC proposal on advisor AI conflicts faces obstacles
It’s more likely the GOP will make a point about their frustrations with the SEC than actually get the bill through the Democratic-controlled Senate.
SEC to add ‘dealer’ tag to hedge funds trading Treasuries
Dozens of firms may face increased scrutiny and compliance costs in regulatory overhaul.
Oregon orders Raymond James to pay nearly $200K over ‘unreasonable commissions’
State regulator imposes penalties in relation to overcharging exposed by multistate investigation.
