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SEC charges former Morgan Stanley rep with stealing $6 million from clients
Michael Barry Carter pleads guilty in a parallel criminal action in Maryland federal court
Former DOL officials say agency historically grants hearings on regulatory proposals
Sen. Patty Murray recently requested a session on DOL’s investment advice measure
Ex-Next Financial rep charged by Galvin with overselling REITs
The Secretary of the Commonwealth of Massachusetts takes another swipe at sales of high-priced products
Biogen faces class action over 401(k) fees
The company is among the latest targeted in a wave of ERISA litigation this year
Business continuity planning is top compliance concern for advisory firms
Issue eclipses cybersecurity for first time in six years in the Investment Adviser Association survey
Restoring tax break for advice fees faces challenge in pandemic relief negotiations
Trump demands a payroll tax cut; lawmakers may not open gates to smaller provisions
Senate Democrats ask DOL to back off ESG rule
The proposed restrictions on environmental, social and governance funds in 401(k)s would perpetuate racial discrimination, a group of lawmakers wrote
SEC charges RIA in $60 million Ponzi-like scheme
David Hu sold fake loans to pay off earlier investors, the SEC alleges
Petition against ‘regulation by enforcement’ is a stunning case of industry disdain for rule of law
The trade groups’ request to the SEC focuses attention on the particulars of a disclosure when a recommendation entails a conflict of interest
CFP Board offers remote option for September exams
Finra, NASAA began scheduling online tests earlier this week
With Democrats gaining steam, financial services ponder potential transaction taxes
Proponent say a levy on trades is harmless. Opponents call it a dangerous friction
Cases tied to Ray Lucia’s challenge of in-house SEC judges likely to settle for lighter punishments
Supreme Court ruled in 2018 that many enforcement actions should be reheard
401(k) arbitration agreements still not mandatory
Sponsors have interest in adding them to their retirement plan documents, but the courts are up in the air, lawyers said
SEC charges cryptocurrency app Abra with unregistered swap transactions
The startup allegedly offered security-based swaps to retail investors without registration
Lawmakers press Robinhood about investor protections on trading platform
Letter from Capitol Hill says the firm ‘must do better’ in the wake of the suicide of a user
New Hampshire investigating churning claims against Merrill brokers
Former governor says the firm, two former brokers were responsible for $50 million in losses
Wall Street benefits from Fed’s support for corporate debt
Fees for underwriting investment-grade bonds doubled in the first half
SEC proposes easing reporting requirements for funds
Funds would be required to report holdings quarterly if they have at least $3.5 billion of equities, up from the current threshold of $100 million
‘Lost and found’ 401(k) bill is good for the advice industry
While not exactly novel, the legislation is a sound first step toward getting Main Street investors the tools they need
Wawa settles ESOP lawsuit for $21.6 million
The agreement is separate from a $25 million settlement reached in a similar suit brought in 2016
