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Wells Fargo’s market value is down $220 billion since Fed cap
The limit the Fed imposed on the bank's assets are hitting harder as corporate customers draw down credit lines amid the pandemic
SEC should accelerate its late leap to electronic delivery
The agency could do more to make e-delivery the default option for shareholder communications, while preserving shareholders’ right to request printed material
Investment giants try to reshape ETF market
Smaller companies are pushing back, arguing the big players are just trying to cement their dominance
Finra extends postponement of in-person arbitration hearings through July 31
Zoom and telephonic hearings can be requested by parties or mandated by arbitrators
Adviser pleads guilty to $18 million fraud scheme
Fred Elm of Elm Tree Investment Advisers claimed he could get investors access to pre-IPO shares of tech companies
Morningstar to pay $3.5 million to settle SEC conflict-of-interest charges
The research firm did not comply with rules designed to separate credit ratings from sales and marketing, according to the regulator
SECURE Act creates wrinkle for annuities in inherited IRAs
The end of the stretch provision requires that accounts be distributed within 10 years after the owner’s death
Fed launches ETF program with $305 million purchase Tuesday
The central bank's weekly balance sheet update also showed its total assets hit a new record of $6.93 trillion
Finra clarifies sales contest restrictions for proposal to align suitability, Reg BI
Competition is okay if it involves general categories of investments rather than specific products
Finra bars no-show former Ameriprise rep
Arthur Hoffman was suspended by the firm last month for outside business interests
Former plan participants file suit against giant ad agency
The 401(k) plan of Aegis Media Americas is charged with not using less expensive funds
Finra suspends broker-dealer it previously charged with fraudulent markups
The regulator charged Sandlapper Securities in 2017 with exorbitant markups of securities
SEC charges advisers with breaching fiduciary duty over fund choices
Hybrid Ambassador Advisors used 12b-1 funds instead of less costly versions
SEC puts pressure on fee transparency in increasingly complex wrap accounts
The regulator often includes the fees among its annual examination priorities, however they were not on the list this year
Lawyers slow to embrace Zoom for Finra arbitration hearings
In-person sessions, suspended during the pandemic, allow for better presentation of evidence and arguments, they say
Powell plays down possibility of negative Fed rates
The Fed chairman cited the risk that the pandemic will cause the U.S. lasting economic harm
Court orders Florida Ponzi duo to pay $1.8 million penalty
Neil Burkholz and Frank Bianco are also required to disgorge more than $860,000
Morgan Stanley hit with $5 million penalty for misleading clients in wrap account program
The SEC charged the wirehouse with not fully disclosing fees for five years
Showdown in 2nd Circuit over Reg BI
The smart money is betting the SEC will prevail in the challenge to its new rules scheduled to take effect June 30
Fed to begin buying corporate bond ETFs Tuesday
The Fed said another program to buy debt directly from issuers will launch 'in the near future'
