Finra clarifies guidelines around AI, chatbot communications
The self-regulator has updated its guidance around requirements for firms to oversee chatbot messaging for investors and AI-generated content.
SEC, FinCEN float new anti-money laundering requirements for RIAs
Proposed rule aims to tighten client information and verification processes in order to curb risks from money laundering and other illicit activities.
SEC probing Boeing’s safety claims following Alaska Airlines incident
The federal regulator is examining statements from the company after a failure in one of its planes led to a near-tragedy in January.
Former Nuveen trader behind $47M insider scheme seeks leniency
Defense attorneys for the disgraced trader argue his criminal behavior was spurred by trauma and phobia about financial insecurity.
Banking giant hoping for “global resolution” to drug-money probes
The financial titan’s CEO urges employees to “hold heads high” as it faces anti-money-laundering actions from multiple regulators.
Robinhood’s crypto business under fire after SEC warning
The stock trading platform is facing an enforcement action as the federal regulator continues to crack down on digital assets.
DOL’s fiduciary rule faces first legal challenge
Lawsuit filed in Texas federal court argues that the agency “has exceeded its authority,” acting inconsistently with ERISA’s intent.
DOL urged to refresh guidance for target-date funds
New report argues the guidelines, developed more than a decade ago, must be updated to better reflect current landscape of 401(k) plan options.
Trump Media stock plunges after SEC auditing bombshell
The company’s share price slumped after the federal regulator revealed charges of “massive fraud” against its auditing firm, leading to $14M in penalties.
JP Morgan data breach hits 451,000 retirement plan members
The financial services giant reported a years-long system failure that exposed names, addresses, Social Security numbers, and other sensitive info.
Wealth firms must prepare for demise of non-competes, despite legal challenges to FTC rule
A growing sentiment against restricting employee moves could affect non-solicitation, too.
FTC faces legal backlash following noncompete rule
The regulator’s motion to restrict noncompete agreements has drawn an immediate reaction from business groups and financial industry stakeholders.
Speed of DOL fiduciary rule rollout branded ‘unAmerican’
Opponents left disappointed after final rule released, DOL accused of 'conducting an ideological campaign to ban commissions'.
Industry holds breath on DOL’s final fiduciary rule
Following debate from advisors and retirement plan stakeholders, the Department of Labor is set to unveil its final decision on the rule.
Financial footprint of student loan debt
Surveys show student loans are a massive financial impediment for many. A recent Biden administration proposal to reduce or forgive some debt would help a small portion of borrowers.
SEC warns industry against marketing rule pitfalls
An alert from the regulator details problems it found in firms' compliance procedures, advertising practices, and Form ADV disclosures.
What gets Finra’s head of enforcement out of bed in the morning?
The regulator's Bill St. Louis has been sharing his priorities.
Senators push back against SEC climate rule
More than 30 senators are supporting a measure that would overturn the regulator’s climate disclosure rule.
SEC dings Minnesota investment manager over pay-to-play conflict
'Is four grand really going to influence a politician’s thinking?' one consultant asks.
Suit challenges SEC market surveillance tool as unconstitutional
The Texas lawsuit accuses the SEC of acting without authority to create the Consolidated Audit Trail, a database that would collect virtually all US trading data.
