Democracy is a systemic issue that's difficult to link to a particular company. But firms take hits by jumping into fights over specific bills.
Wall Street's new sheriff will confront a range of market threats, from the fallout from the GameStop trading frenzy to the deluge of SPACs and the collapse of Archegos.
The Manhattan investment adviser defrauded his A-list clients of more than $19 billion.
ETF issuers are betting en masse that U.S. regulators will green-light a fund tracking the largest cryptocurrency.
In a set of frequently asked questions, the agency said a recommendation to rollover retirement funds from a company plan to an individual retirement account can be part of an ongoing client-adviser relationship and trigger a fiduciary standard of care.
The agency’s role is not to determine whether any particular strategy is a good one, but to ensure investors know what they are getting, according to Securities and Exchange Commission member Hester Peirce.
The risk alert is the latest step the SEC has taken to emphasize ESG oversight. In recent weeks, it has formed an enforcement task force and released a request for public comment on ESG and climate-risk disclosures.
Plaintiffs alleged that IBM failed in its fiduciary duty to participants by not protecting them from stock losses that resulted from an unprofitable chip manufacturing unit.
Claims that promoters face less legal liability than a traditional public offering are “uncertain at best,” a top SEC official said in a statement.
Goldman faces a vote at its annual meeting later this month on whether it should publish a report on how its mandatory-arbitration policy impacts employees and workplace culture.
Assessing the murky family-office world presents challenges, such as sorting out the different types. The SEC had targeted family office oversight for review this year even before the Archegos blowup.
UBS has been hit with a rash of arbitration claims over strategies investors say damaged them, and most recently it saw a wave of investor complaints over Puerto Rico bonds and bond funds.
Recently, Nebraska, Idaho and North Dakota passed rules matching NAIC’s standard, joining other states on the roster: Arkansas, Arizona, Delaware, Iowa, Michigan and Rhode Island.
Coca-Cola and Delta Airlines — both headquartered in Atlanta — have come out against the bill, as have many other corporations. That has drawn backlash from Republican lawmakers, including U.S. Senate Minority Leader Mitch McConnell.
Former chief compliance officer Michael Cohn was also fined $50,000. A former Securities and Exchange Commission examiner, he was charged in October 2019 with obstruction of justice relating to an SEC investigation of GPB.
The company says it will convert its $39 billion Grayscale Bitcoin Trust into an exchange-traded fund as soon as U.S. regulators allow.
Personal information used to cross-sell other services is not a plan asset, a court found. Two new 401(k) lawsuits were also filed against Icon Clinical Research and Wesco Distribution.
Dan Berkovitz, a Democratic commissioner on the Commodity Futures Trading Commission, blasted his own agency for taking too light a touch with the investment funds.
The SEC and other regulators want to keep firms and advisers on their toes — and toeing the line.
There's a sense of urgency to make moves to take advantage of today's low tax rates because they may be going up soon. A $2.3 trillion package contains a proposal to increase the corporate tax rate from 21% to 28%.
