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Finra in surprise proposal to allow predicted returns in marketing
SEC reviewing submission to allow 'useful' projected performance.
Big banks face larger burden from SVB collapse
FDIC deposit insurance fund paid out around $16B.
Europe might be getting its own SEC
ECB president wants to give regional securities regulator similar powers to the US body.
Morgan Stanley to pay 6 states $6.5M for failing to protect customer data
About 15 million clients' details were exposed after information was left on decommissioned computers.
Provisions to kill DOL fiduciary proposal add to uncertainty
The Department of Labor stopped another financial industry attempt to slow the measure by declining to extend the public comment deadline of Jan. 2.
Finra fines Haywood USA $175,000
The regulator's settlement with the US unit of Canadian firm relates to sales of Canadian private placements.
House passes temporary funding bill, lowers shutdown risk
But there are still several key areas of disagreement among lawmakers.
SEC increases enforcement actions, imposes second-highest amount of penalties
'Last fiscal year’s results demonstrate yet again the Division’s effectiveness,’ says SEC Chair Gary Gensler.
GWG bond debacle reveals limits in investor protection
Titan Securities is already among the departed. It's not footing the bill for its own funeral.
Big aggressive rate cuts coming within months, say UBS, Morgan Stanley
Goldman Sachs? Not so much.
Top VC firms pledge responsible strategy on AI startups
Coalition says it wants to ensure it funds firms with strong guardrails.
US faces worsening climate change impacts, major report warns
Government report says pace of change needs to accelerate to avert worst results.
Your clients don’t think Bidenomics has worked for them
New poll shows concerning numbers for the president.
Government shutdown would threaten SEC agenda
If a federal shutdown occurs, the SEC would cease most operations, potentially jeopardizing pending rules. The IRS would also go quiet as advisors wait for SECURE 2.0 guidance.
GOP riders to stop SEC rules face difficult legislative path
'Senate Democrats are highly unlikely to go along with [those provisions] that have been inserted into appropriations bills in the House,' says an official at an advisor trade association.
Older clients at high risk of cybercrimes, lost $3.1B in 2022 alone: Report
Lower levels of digital literacy among older Americans leave them vulnerable.
ESG is now mainstream despite US skepticism, say investors
US investors pulled $2.7B from sustainable funds in Q3 but global peers are not deterred.
Gensler says proposal on AI conflicts aligns with Reg BI
'We're not trying to change Reg BI or change the fiduciary guidance,' the SEC chair says at SIFMA's annual conference.
State regulators, PIABA back Finra against claim it’s unconstitutional
'Finra provides essential services ... thousands of firms, hundreds of thousands of registered persons, and millions of American investors rely upon,' the North American Securities Administrators Association says in a brief.
Robert W. Baird agrees to pay clients $520K for mutual fund charges
The settlement with Baird stems from Finra's 2020 targeted examination regarding rights of reinstatement.
