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Broker-dealer employee hit by SEC legal action
A Chinese fintech company executive, inside information about Morgan Stanley deals and six-figure illicit profits.
Supreme Court rejects student-loan relief plan
The high court tossed out President Joe Biden's plan to slash the student debt of more than 40 million people.
Fidelity joins race for spot-bitcoin ETF with SEC filing
It's the latest high-profile traditional financial finance firm to file for such an exchange-traded fund, after BlackRock made a splash with its June 15 application.
How the end of affirmative action could hurt financial advice
Diversity among financial advisors is currently lacking, and the Supreme Court's ruling is unlikely to help.
Finishing jail term for Ponzi, recidivist fraudster sold another: Feds
'A leopard doesn’t change its spots,' one industry attorney said of Wilson Baston of Brooklyn, New York, who had pleaded guilty in 2008 to deceiving hundreds of investors in a Ponzi scheme.
SEC report on RIA mandatory arbitration leaves many questions about potential investor harm
The report says more than half of investment advisors force their clients to go to arbitration to settle disputes, but it doesn't put a number on RIA arbitration cases or the costs for claimants.
Finra sues smoothie-throwing broker for ducking cash reporting rules
James Iannazzo made cash transactions totaling close to $846,000 to avoid detection, the regulator alleges.
Campaign against ESG isn’t dissuading asset managers
Regulatory changes, social pressure and demand from clients are keeping fund companies focused on ESG, according to a survey.
ESG investors get set of global reporting standards
The voluntary framework published by the International Sustainability Standards Board paves the way for companies across jurisdictions to report uniform climate and sustainability information.
GOP battle plan on ESG focuses on proxies, SEC and asset managers
The list of priorities put together by the House Committee on Financial Services' ESG working group shows where a Republican administration might be headed.
House Republicans seek to kill SEC climate, mutual fund, custody proposals
The riders attached to a House bill funding the agency will meet resistance in the Democratic-majority Senate.
Supreme Court backs arbitration, in win for Coinbase
The court's ruling reinforces the ability of companies to channel customer and employee disputes into arbitration.
Number of investment advisors hits record high
Employment at advisory firms also reached a record, while assets under management declined in 2022, according to an annual study by the Investment Adviser Association and National Regulatory Services.
SEC fines JPMorgan $4 million for deleting electronic communications
A vendor improperly destroyed 47 million electronic communications, including emails and instant messages, from 8,700 inboxes.
SEC bars RIA chief compliance officer previously found guilty of fraud
Jennifer Campbell was office manager and chief compliance officer for a registered investment advisor in Buffalo, New York.
It’s time for financial advisors to help investors gain access to alts
The long-outdated accredited investor rule has become a symbolic roadblock between retail investors and institutional-quality investments.
Finra suspends former Hightower exec for charging personal expenses to corporate card
Colin Healy allegedly racked up more than $6,000 in personal expenses for things like 'pool lessons' and 'tennis clinics.'
Finra warns brokerages to pay attention to rising cybersecurity threats
The broker-dealer self-regulator highlighted a recent government advisory about a ransomware attack and told member firms to brush up on Finra's guidance on the topic from last December.
Finra suspends financial advisor facing child sex charge
Thomas Vernor is based in Huntsville, Alabama, and started in the securities industry in 1984 at Morgan Stanley Dean Witter.
UBS could get hit with hefty fines over Credit Suisse’s dealings with Archegos
The Federal Reserve’s fine over Archegos may be as high as $300 million, while the UK’s Prudential Regulation Authority could impose a penalty of up to $128 million.
