Displaying 10200 results
Senate confirms Lisa Gomez as assistant secretary of Labor, EBSA head
She takes the helm of the agency that oversees employee retirement plans as it is writing another iteration of an investment advice rule.
IAA members encourage lawmakers to kill AML rider, pass Secure 2.0
The organization representing SEC-registered advisers held its advocacy day on Capitol Hill on Thursday.
Advisers and clients slammed by Hurricane Ian
Florida, full of retirees looking for sunshine and low state taxes, is also densely populated with financial advisers.
SEC’s Gensler says investors don’t distinguish between advisers, brokers
The agency's chair implies at an Investment Adviser Association conference that investors should receive best-interest advice regardless of which type of financial professional they work with.
Wells Fargo facing class action over 401(k) stock purchases
Three plan participants are suing the bank, alleging that it overpaid for company stock in its employees’ retirement plan.
Wedbush Securities hit with $900,000 fine for trading problems
The Los Angeles-based firm has had a history of failing to supervise certain trades that resulted in scrutiny from regulators and penalties.
Wall Street banks hire WhatsApp cops after being hit with big fines
In court documents, the SEC described at least a few senior managers at each firm who engaged in rampant texting with colleagues and clients.
Wall Street firms hit with $2 billion in fines in WhatsApp probe
The penalties levied against firms including Citigroup, Bank of America and Goldman Sachs constitute the largest-ever penalties against US banks for record-keeping lapses.
SEC bars Merrill manager out on sick leave
Richard M. Crabtree, who was based in Annapolis, Maryland, began defrauding a client in 2016, according to the agency.
Wall Street firms seen paying historic fine to settle WhatsApp probe
The results of the investigation could be released as soon as Wednesday and could see regulators extracting total fines of around $2 billion.
The wrinkles with the SEC’s third-party assurance for emissions
'Attestation' will lead to more reliable data for investors, but there are hurdles to overcome first.
SEC files fraud suit against three connected to $100 million deli
Federal prosecutors also accused James T. Patten, Peter L. Coker Sr. and Peter L. Coker Jr. of artificially inflating the price of two companies through manipulative trading.
Despite a $5.2M YES arb loss, its biggest yet, UBS may keep fighting
It's been win some, lose some for UBS as it defends its complex options strategy, but lately investors seem to be prevailing more.
Finra investigates David Lerner’s son over sales of in-house funds
Daniel Lerner, who's executive vice president of investor services at David Lerner Associates, faces potential disciplinary action over sales of energy funds.
GOP agenda includes pressuring SEC, advancing tax legislation
The Republican party is favored to win the House in November's election. But even with control of that chamber, the legislative path for GOP bills is perilous.
SEC charges former CNBC guest analyst with $3 million fraud
U.S. Attorney’s Office files a parallel criminal charge against James McDonald, who is believed to be in hiding.
New NASAA leader wants Reg BI to give investors ‘best bang for buck’
Andrew Hartnett, who's deputy administrator for securities in Iowa's Insurance Division, has put assessing the broker conduct standard at the top of his priority list at NASAA.
‘Central Park Karen’ lawsuit over firing thrown out
Judge rejects Amy Cooper's suit against Franklin Resources in which she claimed racial and sexual discrimination and defamation.
State regulators see decline in enforcement actions
But NASAA reports increase in both fines and restitution in 2021, with states collecting $145 million in fines and returning $312 million to investors.
CEO Scharf sees ‘several years’ of regulatory work ahead for Wells Fargo
The bank remains committed to turning itself around after a series of scandals, but implementing all its plans will take time, Scharf said in prepared testimony for a congressional committee hearing.
