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CFP Board opposes FPA on title protection effort
CFP Chair Kamila Elliott said the current political environment would make it too difficult to obtain legal recognition of financial planning.
Social media finfluencers face charges in $114 million pump-and-dump scheme
The defendants allegedly disseminated false and misleading information to their collective 1.5 million Twitter followers to hype interest in certain securities while secretly planning to sell shares at artificially elevated prices, the DOJ charged.
SEC plan calls for overhaul of the way stocks are traded
The agency laid out four proposals that Chair Gary Gensler says would boost transparency and competition.
Managers stop calling some assets ESG ahead of SEC rules
Anti-greenwashing proposals are already having an effect, results of a US SIF survey suggest.
Advisers should look to alts to attract high-net-worth clients
But they need to be aware of stepped-up regulatory scrutiny of complex products, an expert tells advisers at the Financial Planning Association annual conference.
CFP Board to launch review of competency standards for credential
The panel will conduct the first comprehensive assessment of the education, examination, experience and continuing education requirements related to the CFP mark.
SEC says Bankman-Fried defrauded investors of $1.8 billion
Bankman-Fried, who was arrested Monday in the Bahamas, also concealed risks and FTX's relationship with his trading firm, Alameda Research, the agency says.
FPA leader calls title protection top advocacy priority for years to come
The organization representing financial planners wants to obtain legal recognition of the profession, a process that could involve a long, winding road through state and federal legislatures.
Bipartisan retirement savings bill foreshadows post-SECURE 2.0 debate
Senate and House members introduce a measure that would establish retirement accounts for low- and middle-income workers not covered by an employer plan.
Finra slaps LPL with $150,000 supervisory fine
The regulator says the firm failed to supervise one of its affiliated brokers whose outside dealings cost LPL customers more than $650,000.
Bipartisan lawmakers raise concerns about SEC best-execution proposals
The agency is targeting so-called payment for order flow, which proponents say allows for low-cost trading but critics say doesn't give customers a good deal on their orders.
Senate approves bill to streamline regulatory paperwork for index-linked annuities
Supporters say the measure will help consumers grasp the product, a kind of variable annuity touted for its downside protection and used in retirement savings.
GOP senators amping up efforts to rein in BlackRock, State Street, Vanguard on ESG issues
Report says the asset managers are using their stakes in public companies to cast proxy votes that favor a ‘liberal political agenda.’
Lawmakers drop adviser AML provision from defense legislation
The Investment Adviser Association lobbied against what it called an 'overbroad' regulation for advisers whose business models don't create money-laundering risks.
Brokers, advisers fall short in protecting clients from identity theft
The SEC finds that some firms use generic compliance programs that aren't tailored to the particular hacking dangers their accounts face.
Ex-LPL adviser arrested in Illinois on theft charges
Bradley Goodbred now faces criminal charges of stealing money from an elderly client, in addition to civil charges from the SEC.
Finra smacks Advisor Group with $1.3 million penalty over private placement sales
The four Advisor Group firms sold investors GPB private placements but failed to tell them that GPB hadn't made required filings, including audited financial statements.
DAF payout bill stalls in Congress
The Senate and House bills will both die at the end of the year if they are not approved. It’s not clear whether sponsors will reintroduce them in January.
Morgan Stanley ordered to pay $11.5 million over covered call strategy
An investor alleges the firm made unauthorized trades. The Finra arbitration decision comes as the regulator is conducting an exam sweep on options.
How to keep elderly clients safe from scams this holiday season
There are many ways financial advisers can protect elderly clients from financial abuse. The first trick is to spot it.
