The vehicles are touted for democratizing markets by allowing retail investors access to high-growth companies. But the SEC said they come with distinct risks.
Finra's department of enforcement has investigated Cambridge's due diligence of the sale of the defunct LJM Preservation and Growth Fund.
Faced with shrinking assets and performance challenges, the $2.5 billion boutique asset manager will shutter its two funds next month.
The panel voted 14-10 to advance Gary Gensler’s nomination to head the Securities and Exchange Commission to the Senate floor for a confirmation vote by the full chamber.
Royal Alliance Associates Inc., SagePoint Financial Inc., and FSC Securities Corp., increased legal reserves by as much as three times the amount of the prior year.
The measure has drawn strong opposition from financial industry trade associations. In a March 4 letter to House leaders, 14 groups warned that the bill 'would cause significant disruption to the independent financial services and property casualty insurance industries and the customers we serve.'
The two rules were among the most heavily contested measures instituted by the DOL under former Secretary Eugene Scalia, with the 401(k) rule drawing nearly 9,000 public comments, most of which opposed it.
The agency cautioned against investing in blank-check companies based on endorsements from pro athletes or famous musicians.
The agency charged two Cetera broker-dealers with breaching fiduciary duty and defrauding retail advisory clients in connection with the sales of mutual funds.
The 430-page rule updates the agency's marketing oversight for the first time since 1961 and applies to social media communications.
Lawsuits increasingly draw in other plan service providers, ranging from record keepers to product solutions providers, plan advisers and others.
The GOP commission member said the agency should provide guidance before bringing enforcement cases
New York state says the insurer failed to adequately inform consumers about the differences between products.
Plaintiffs in the separate cases allege the sponsors allowed the plans to have excessive investment-management and record-keeping fees.
The move is the latest effort by the agency to emphasize oversight of sustainability disclosure and investing. The commission's Republican members raise questions about the flurry of climate activity.
Annuities are an answer to one of the most vexing worries that Americans face – outliving their money in retirement, IRI leaders said. But a critic countered that the products need to come with more investor protections.
The state is the latest among many that have taken steps toward adopting such programs, which are intended to dramatically expand access to retirement savings plans at work for employees of small businesses.
The agency is 'integrating climate and ESG considerations into [its] broader regulatory framework,' Acting Chair Allison Herren Lee says.
Precious metals, cryptocurrencies and promissory notes are fraudster favorites in 2021, a survey of enforcement officials finds.
The focus on the climate and finance at the hearing likely was a harbinger of the priority the SEC will place on environmental, social and governance investing under Gensler. But Reg BI was ignored.
