Panelists testified that more must be done to help retirement savings, including emergency savings and student-debt management services. It might also mean passing legislation to discourage workers from prematurely cashing out their 401(k) balances.
The legislation advances to the House floor as the SEC is taking public comments on increasing ESG reporting requirements.
The broker, Matthew Clason, transferred more than $668,000 from the victim’s investment accounts into a joint bank account and then took most of it, according to the Department of Justice. He faces up to 20 years in prison.
The SEC chair deftly handled four hours of questioning from lawmakers, including a query about Reg BI. He showed he’s a deft politician who will be able to guide policy in a direction he favors.
The Securities and Exchange Commission says the firm knew that hackers were trying to access participant accounts but didn’t report them.
The exchange has proposed listing Fidelity's Wise Origin Bitcoin Trust, saying in its filing that concerns about potential manipulation of a Bitcoin ETF have been 'sufficiently mitigated.'
President Biden likely will need to keep all Democrats on board to get his spending and related tax proposals through Congress.
Finra will reopen 62 of its 69 hearing locations in July, while allowing arbitration parties to continue to request remote proceedings. Even if in-person proceedings are allowed, Finra said arbitration parties can still continue to request a remote hearing.
One industry group is now calling on Finra to end the remote hearings it says are harming investors. Two hundred and sixty-three hearings have been conducted remotely as of the end of March.
Tax planning has become an urgent topic following President Joe Biden's proposal aimed at high earners and wealthy investors.
An unscientific poll of readers found 61% disapproving of Biden and 60% opposing his proposed tax increases. The survey was released on April 29, Biden’s 100th day in office.
The heads of the Senate and House committees overseeing labor want to know whether TDFs are working as advertised.
Democratic bills address investor protection concerns related to the frenzy; Republicans warn against regulating ordinary investors out of the market.
While plaintiffs continue to develop many theories and new claims, one type of claim that has appeared with increasing frequency in 401(k) litigation 2.0 is an allegation that deciding to offer additional services to plans and their participants creates conflicts.
A three-judge panel in the U.S. Court of Appeals for the Ninth Circuit affirmed a district court’s dismissal of the case. The savings system is not a plan under the Employee Retirement Income Security Act and is therefore not preempted by the law, the panel wrote in the opinion published yesterday.
Expanded government crackdowns on syndicated conservation easement land deals are creating financial and legal headaches for some wealthy investors.
In his first appearance on Capitol Hill since being confirmed as SEC chair, Gensler also addressed ESG and the gamification of investing.
In remarks prepared for a House hearing Thursday, Gary Gensler shines a spotlight on online brokerages and market makers that dominate the business of executing retail investors' equity orders.
The bill, which advances to the House floor with a strong bipartisan push, would raise the RMD age from 72 to 75, among many other provisions.
Employing insights from behavioral finance when putting together the trusted contact form can increase the likelihood a client names a trusted contact, according to a recent report from the Ontario Securities Commission.
