Ahead of a House hearing Thursday with the company's CEO, the Massachusetts senator accused Robinhood of having inadequate cash on hand to manage a trading surge.
Fed officials reportedly privately signaled the bank that they accept its proposal for overhauling risk management and governance, which would move Wells a step closer to getting the cap on its assets lifted.
Member firms and trade associations representing them told Finra their pandemic experience has shown that supervisors don’t need to look over the shoulders of registered reps physically to ensure they’re following the rules.
The client choice approach reflected in Reg BI is in fact the best approach for individual investors because every individual and family is unique when it comes to their wealth management needs and goals.
For independent advisory firms and advisers, the Biden administration’s approach to regulation will be among the most consequential outcomes of the November elections.
Being behind Canada on Bitcoin funds could put U.S. ETF providers at a disadvantage when it comes to gaining market share.
The banking giant, which was convicted of wire fraud in connection with a Libor-rigging scheme, currently enjoys key rule exemption.
The rule, which was proposed last year and goes into effect next Tuesday, essentially replaces the defunct Obama-era version that regulated investment advice for 401(k)s and rollover IRAs. It provides an exemption for investment advice fiduciaries under the Employee Retirement Income Security Act.
Agency says it will make it harder for financial firms to obtain waivers from knock-on sanctions when they settle enforcement cases.
The regulator wants to install an industry veteran to run GPB to monitor its assets in auto dealerships and make sure investor interests are protected.
The change puts pressure on firms' compliance operations, experts say. Facilitating the ability of SEC staff to issue subpoenas and take testimony is expected to make enforcement more agile and effective.
The legislation would allow an inflation adjustment for stock or business property held by people 59 ½ or older who have held the assets for more than three years. The inflation adjustments would be made according to the Chained Consumer Price Index for All Urban Consumers.
Short-term mutual fund trades and variable annuity switching is generally regarded in the retail securities industry as a way for brokers and advisers to increase commissions at the expense of clients.
Those who oversee the markets are not built to react quickly to disruptions within them. Theirs is a world of study and deliberation. They have to listen to a wide range of public input. and they often leave much regulatory ambiguity in place.
While the Labor Department has ended its support for the suit seeking to invalidate California's auto-IRA, the analysis in its amicus brief is still part of the record before the court.
Isaiah Goodman of Becoming Financial Advisory Services allegedly siphoned off most of clients’ money and spent it on himself
SEC obtains judgments against Seth Leyton and the trust of the orchestrator of a fraud involving collateralized mortgage obligations.
Legal experts say the cases will have a monumental challenge overcoming motions to dismiss. The lawsuits allege online brokerages entered into an agreement and conspiracy to prevent the market from operating normally.
Stephen Moleski, who was arrested for a 1989 scheme, was alleged to be running an unregistered offering and acting as an unregistered broker.
A retailing matriarch won the decision against her grandsons, who invested her money in complex products. J.P. Morgan and the grandsons were also found liable for elder abuse under Florida law.
