The rule requires firms with a history of misconduct or that employ a high number of reps with disciplinary records to deposit cash into an account controlled by the Financial Industry Regulatory Authority Inc.
Legislation by Rep. Patrick McHenry, R-N.C., would allow anyone who passes the agency's exam to purchase unregistered securities, but credentialing groups are concerned about the mechanism for becoming a sophisticated investor.
In a letter to Labor Secretary Marty Walsh, Democrats asked for an update on the DOL’s rule proposals on ESG criteria. Last year, the Trump administration DOL finalized two rules that tamped down on use of so-called nonpecuniary factors in investment selection.
Recent hires at the advisory firms come at a time when the fastest-growing RIAs are embracing technology tools at higher rates than their peers.
The largest independent brokerage was firing on all fronts for the three months that ended in June, including recruiting advisers, bringing in net new assets and completing previously announced deals to purchase advisers.
Times have changed as the giant money manager for professors puts a $97 million penalty behind it.
A new SEC registration form tailored to the products would support innovation, the Insured Retirement Institute argues.
Legislation written by Rep. Alexandria Ocasio-Cortez, D-N.Y., would require some advisory firms that manage wealthy families' finances to register with the Securities and Exchange Commission.
It's critical for wealth management firms to create authentic and compelling narratives around their sustainable investing offerings.
Gensler says he's asked agency staff to seek additional disclosures from Chinese firms before signing off on their registration statements to sell shares.
AssetMark reported a 33.8% increase in AUM following a recent pivot to offer products tailored to registered investment advisers.
Lisa Gomez's career is rooted in ERISA, and her keen understanding of the law would help the DOL as it seeks to implement new rules, lawyers said.
The former AdvisorEngine exec will oversee FiNet, First Clearing and the wirehouse's RIA business.
Chad Bester is joining Mount Yale Capital Group in Minneapolis.
The rights to the use of the empower.com domain are at the heart of the suit, which was filed in federal court in Illinois.
SEC previously charged George Heckler with fleecing $20 million from investors in a decade-long fraud.
Robinhood hit the public market after experiencing dramatic growth and heightened scrutiny throughout a pandemic year.
The company's success in 2021 in recruiting advisers comes at a delicate time as the financial advice industry tries to figure out the best way to return to the office amid the Covid-19 pandemic.
Nashville, Tennessee-based GenXFinancial is acquiring Boston Partners Financial Group to form a $9 billion firm.
Teachers are eligible for a second supplemental plan. It’s called the 457(b), and it has several key advantages over the 403(b).
