Displaying 10208 results
Finra fines B-D $30,000 over rep’s medical marijuana biz
Park Avenue Securities fell short in its supervision of a rep who helped operate a cannabis business, the regulator says.
Senate passes debt-limit deal, ending threat of US default
The 63-36 vote on the bill Thursday night was carried by moderates in both parties; the legislation now goes to President Biden to sign.
House vote advances bill to set SEC test to become accredited investor
The legislation seems to strike a balance between concerns about allowing ordinary investors to buy private placements and creating opportunities for them to diversify their portfolios.
Democratization of markets doesn’t mean all investors should vote for private placements
Investor harm is occurring among so-called sophisticated investors, and strong guardrails must be put in place if access to unregistered securities becomes easier for retail investors.
Backers of bill to ease small-firm regulatory burden seek Senate gains after House win
The legislation would force the SEC to calibrate compliance costs for small and growing businesses, including advisory firms.
House passes debt-limit deal, easing default concerns
The deal now heads to the Senate, where approval is virtually certain; Senate GOP leader Mitch McConnell said the measure could be voted on as soon as Thursday.
California lawmakers move ahead with major climate disclosure bills
The state is poised to go much further on emissions reporting than the Securities and Exchange Commission.
Finra uses fine proceeds of $48.1 million to help fund improvements
The money from fines, along with funds from its reserves and excess operating revenue, allowed the regulator to finance $111.4 million in projects to improve its examination and enforcement efforts.
California B-D that sold GWG bonds files for bankruptcy
Irvine-based JRL Capital Corp. reported total assets of $43,000 and total investor claims against the firm of $2.5 million.
Firms brace for SEC spotlight on electronic communications
Protecting investors from fraudulent, misleading or otherwise problematic electronic communications seems to be of the utmost importance to regulators.
Former Wells Fargo executive Tolstedt to pay $3 million SEC penalty
The settlement with the SEC follows Carrie Tolstedt's agreement in March to plead guilty to obstructing a problem of the bank's practice of opening accounts for customers without their authorization.
House bill would nix ESG funds in Thrift Savings Plan
The retirement plan for federal government workers also includes numerous Christian and 'pro-life' funds that would seemingly be affected by the legislation.
Philly broker in hot water, again, over alt sales
Austin Dutton last week lost an industry arbitration claim of $43,645 to a client related to sales of GWG bonds.
California bill would require state pension funds to divest oil, gas assets
The measure seeks divestment of an estimated $15 billion from oil and gas companies by CalPERS, CalSTRS.
Debt-limit deal faces test in Congress
Legislators have less than a week to approve the agreement before the default deadline next Monday, June 5.
3 best practices for avoiding a fiduciary breach
Given the many lawsuits filed against retirement plan sponsors in recent years for breaching their fiduciary duties, here are the steps plan committees should be taking to mitigate risk.
Finra fines Vanguard $800,000 for misleading information on money market accounts
The firm miscalculated annual yield and income for nine funds on approximately 8.5 million statements. It also failed to act promptly when customers noticed something was wrong.
Preparing for the future: How 529 plans have expanded in the past decade
Here's a list of the costs that have become qualified expenses for 529 plans in the past decade.
Gensler forcefully defends mutual fund reform to skeptical industry audience
The SEC chair drew the ire of fund officials when he suggested that the agency looks out for investors while the industry looks out for itself.
Former Morgan Stanley advisor gets 7 years for ripping off clients
Shawn Edward Good pleaded guilty to stealing $7.2 million from retirees and used the money to pay off earlier investors and to fund a lavish lifestyle.
