Citadel Securities and a trade group sued the Securities and Exchange Commission on Tuesday over changes the regulator is making to how trading data are reported and paid for in the markets.
Ken Griffin’s market-making firm and the American Securities Association petitioned the 11th US Circuit Court of Appeals in Atlanta to review the SEC’s approval of the funding model for the Consolidated Audit Trail.
The action was “in response to widespread investor concerns about transparency, governance, costs, and data privacy,” a Citadel Securities spokesperson said in an emailed statement. “The SEC has overstepped its statutory authority and failed to address investor and industry concerns, leaving us no choice but to litigate.”
In response to a request for comment, the SEC said in a statement that it “undertakes its regulatory responsibilities consistent with its authorities.”
Meanwhile in Florida, Raymond James welcomed a multigenerational advisor group from Stifel, while Merrill reeled in Morgan Stanley advisors in the Chicago North and Nashville markets.
But management remains focused on UBS advisors’ ability to reel in new assets.
VanEck is leaning on Allocate's operating platform to bring a private markets offering to financial advisors in weeks, not months.
The Omaha-based RIA's second Hanover office deepens its US expansion as industry dealmaking hits a record clip in 2026.
The two alternative-investment platforms' new financing – coming from Blue Owl, Carlyle, Franklin Templeton and other big-name backers – signals deepening advisor demand for private-market access.
Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains
Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income
