The Fifth Circuit Court of Appeals said the agency's house of in-house judges violated a hedge fund manager's constitutional right to a jury trial.
Investors with a minimum of $100,000 can receive financial planning and ongoing guidance from an adviser for an annual fee ranging from 0.75% to 0.85%.
RIAs aren't adequately disclosing arbitration clauses in client contracts and are forcing clients into expensive dispute forums, the groups said.
After the partnership missed its deadline to file audited financial statements in 2018 for its two largest private funds, the entire GPB enterprise struggled.
Financial advisers are increasingly worried about securing client information and the consequences of a data breach, but iCapital has a new idea about how to make it safer for advisers to access its network of alternative assets.
The agency has been sending firms lists of key positions including heads of certain investment banking teams or trading desks.
Perhaps the biggest concern for RIAs contemplating a sale is how it would affect their employees and clients.
Voya Investment Management will add about $120 billion of assets under management as well as some investment teams.
The Telemessage technology, combined with existing services from Smarsh, will assist in the ongoing struggle to monitor private messaging apps used by employees at financial services firms.
Firms should be watching out for employees chatting on WhatsApp, as well as brokers in need of heightened supervision and complex products being sold to retail customers.
The agreement calls for the firm to forfeit $463 million and pay $3.2 billion in restitution to victims of the fraud as well as a $2.3 billion penalty.
Berkshire Hathaway reported new stakes in banking giant Citigroup Inc. and in auto lender Ally Financial Inc.
A California law requiring that publicly held companies have a minimum number of women on their boards was struck down on May 13.
California is looking to expand its auto-IRA program, while Missouri, Arizona and Hawaii are considering joining the club.
'This space, crypto markets, is a highly speculative asset class,' the SEC chairman said Monday at Finra's annual meeting.
Fidelity estimates a 65-year-old couple retiring this year will spend $315,000 on health care and medical costs throughout their retirement, which is up 5% from its estimate last year.
The defendants, including two who had been barred from the brokerage industry, pocketed more than $75 million.
This month’s #AdviserTech roundup looks at Orion’s acquisition of Redtail CRM, Advyzon’s launch of its Quantum Rebalancer, RightCapital’s new one-page Financial Plan Snapshot and Vanguard’s partnering with American Express.
It’s not clear when the agency will announce its first major enforcement actions regarding recommendations brokers make to customers, the substantive heart of the regulation.
Over the years, some have become convinced Reg BI is a significant step up from brokers’ previous suitability standard. Others remain skeptical that it’s tough enough to curb broker conflicts.
