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IRS plans 50% increase in audits of small businesses next year
NEWS REGULATION AND LEGISLATION NOV 19, 2020
IRS plans 50% increase in audits of small businesses next year

The increase comes off a low base; in 2018, the agency audited only 140 partnership returns out of more than 4 million filed

Vanguard, Fidelity fall short in ESG fund ratings
INVESTING ESG NOV 18, 2020
Vanguard, Fidelity fall short in ESG fund ratings

Morningstar gave both asset managers low scores on incorporating ESG factors into investment decisions

Robinhood army swells thematic ETFs
INVESTING MUTUAL FUNDS NOV 17, 2020
Robinhood army swells thematic ETFs

Funds built around a theme have taken in more than $20 billion so far this year

SEC's Clayton to step down at year's end
NEWS REGULATION AND LEGISLATION NOV 16, 2020
SEC's Clayton to step down at year's end

Democrat Joe Biden is expected to name his chairman pick in the coming weeks

Ex-Wells Fargo CEO Stumpf to pay $2.5 million in SEC settlement
NEWS WIREHOUSES NOV 13, 2020
Ex-Wells Fargo CEO Stumpf to pay $2.5 million in SEC settlement

The agency accused Stump and former Wells executive Carrie Tolsted with misleading shareholders about the success of Wells' community bank

Businesses worldwide should prepare to disclose climate risk
INVESTING ESG NOV 13, 2020
Businesses worldwide should prepare to disclose climate risk

The Federal Reserve and the U.K. Treasury have both released positions on climate risk disclosure

Wall Street knows who it doesn’t want at the SEC: Gensler or Bharara
NEWS REGULATION AND LEGISLATION NOV 13, 2020
Wall Street knows who it doesn’t want at the SEC: Gensler or Bharara

Banks and investment firms are fretting about some of the people they fear are in the running to head the Securities and Exchange Commission under Biden

Lame-duck Trump has potential to roil markets
NEWS INDUSTRY NEWS NOV 12, 2020
Lame-duck Trump has potential to roil markets

Pricing in futures markets suggests traders are braced for the possibility of a period of heightened turbulence

Ex-CFTC chief Gensler advising Biden on financial regulators
NEWS REGULATION AND LEGISLATION NOV 11, 2020
Ex-CFTC chief Gensler advising Biden on financial regulators

Gensler gained a reputation for standing up to Wall Street during the Obama administration

Stocks hit all-time highs on optimism about vaccine
INVESTING EQUITIES NOV 09, 2020
Stocks hit all-time highs on optimism about vaccine

Stocks that have been hit hard by lockdowns, like movie theaters and cruise companies, jumped, while stay-at-home companies plunged