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Inflation hits 40-year high, pressuring Fed and Biden
RIA NEWS JUN 10, 2022
Inflation hits 40-year high, pressuring Fed and Biden

The consumer price index rose 1% in May, topping all estimates, led by increases in the costs of shelter, food and gas.

Yellen says crypto is ‘very risky’ option for retirement savers
RETIREMENT PLANNING JUN 10, 2022
Yellen says crypto is ‘very risky’ option for retirement savers

Treasury chief says it would be reasonable for Congress to regulate what assets could be included in tax-favored retirement vehicles.

Wells Fargo sells off on report of probe of fake job interviews
PRACTICE MANAGEMENT JUN 10, 2022
Wells Fargo sells off on report of probe of fake job interviews

The Manhattan U.S. attorney's office is reportedly investigating allegations the firm conducted sham job interviews of minority candidates to satisfy in-house diversity guidelines.

State Street falls after report it may acquire Credit Suisse
RIA NEWS JUN 09, 2022
State Street falls after report it may acquire Credit Suisse

Swiss blog says State Street could make an offer for bank. State Street says it’s focusing on Brown Brothers purchase.

SEC takes aim at payment-for-order flow
EQUITIES JUN 08, 2022
SEC takes aim at payment-for-order flow

SEC Chair Gary Gensler is proposing sweeping changes to the rules underpinning the U.S. stock market, including a possible auction mechanism that would help retailer investors get the best pricing for their orders.

Wells Fargo pauses diversity rules for hiring after report of sham interviews
PRACTICE MANAGEMENT JUN 07, 2022
Wells Fargo pauses diversity rules for hiring after report of sham interviews

CEO Charlie Scharf said in a memo that the bank would halt the use of diversity guidelines for hiring as it reviews the reports of fake interviews.

Citadel Securities, Virtu form crypto plan with Fidelity, Schwab
ALTERNATIVES JUN 07, 2022
Citadel Securities, Virtu form crypto plan with Fidelity, Schwab

The crypto offering, still in its early development, could be available late this year or early next.

Sweeping US crypto legislation targets stablecoins, mining
ALTERNATIVES JUN 07, 2022
Sweeping US crypto legislation targets stablecoins, mining

While chances of passage are slim ahead of November’s midterm elections, it could act as a starting point for negotiations next year.

Key factors indicate imminent inflation relief
RIA NEWS JUN 07, 2022
Key factors indicate imminent inflation relief

Prices are easing for forward-looking elements of manufacturing and shipping, which could ease inflation.

SEC weighs sending retail stock orders to auctions for execution
REGULATION, LEGAL & COMPLIANCE JUN 07, 2022
SEC weighs sending retail stock orders to auctions for execution

Changes would impact the exchange businesses which display prices and aggregate trading data.