Regulation And Legislation

Displaying 10552 results
SEC rejects Texas advisor's 'moral obligation' defense over trading in deceased client's account
INDEPENDENT BROKER DEALERS JUN 06, 2025
SEC rejects Texas advisor's 'moral obligation' defense over trading in deceased client's account

The ex-registered broker facilitated a series of transactions, including nine trades totaling nearly $130,000 and eight withdrawals amounting to $85,000, for a fourteen-month period after the client's death.

By Leo Almazora
President Trump's big bill sparks strategic shifts among wealth advisors
REGULATION AND LEGISLATION JUN 06, 2025
President Trump's big bill sparks strategic shifts among wealth advisors

"We are making sure to pivot away from companies disproportionately exposed to the lower-end consumer," says F.L.Putnam's Ellen Hazen, as her RIA's investment strategy prepares to react to proposed cuts to medicaid and SNAP.

By Andrew Cohen
Trump could be open to SALT cap changes
REGULATION AND LEGISLATION JUN 06, 2025
Trump could be open to SALT cap changes

President tries to find compromise to get bill through.

By Bloomberg
Maine bill allows firms to delay transactions to protect older clients from exploitation
REGULATION AND LEGISLATION JUN 05, 2025
Maine bill allows firms to delay transactions to protect older clients from exploitation

Maine lawmakers have passed a bill authorizing financial institutions to delay disbursements if they suspect financial exploitation of residents aged 62 or older.

Delaware court orders Collectable Sports Assets to release records to investor
REGULATION AND LEGISLATION JUN 05, 2025
Delaware court orders Collectable Sports Assets to release records to investor

Judge sides with investor, whose collection included a Luka Doncic game-worn rookie jersey and a Wilt Chamberlain high school uniform, after concerns were raised about oversight and business practices.

By Matthew Sellers
UBS 'wrongfully' fired Idaho advisor in 2021: FINRA panel
WIREHOUSES JUN 04, 2025
UBS 'wrongfully' fired Idaho advisor in 2021: FINRA panel

"We think this happened because of Anderson's age and that he was possibly leaving," said the advisor's attorney.

By Bruce Kelly
Trump's 'revenge tax' might come back to bite US borrowers, experts say
REGULATION AND LEGISLATION JUN 04, 2025
Trump's 'revenge tax' might come back to bite US borrowers, experts say

Certain foreign banking agreements could force borrowers to absorb Section 899's potential impact, putting some lending relationships at risk.

By Bloomberg
Supreme Court slaps down brokerage's appeal vs. FINRA expulsion case
INDEPENDENT BROKER DEALERS JUN 02, 2025
Supreme Court slaps down brokerage's appeal vs. FINRA expulsion case

The high court's decision rebuffing Alpine Securities marks a setback for a broader challenge to Wall Street's reliance on self-regulatory organizations.

By Bloomberg
Industry, financial experts sound off after DOL walks back crypto warning for 401(k)s
RETIREMENT PLANNING MAY 30, 2025
Industry, financial experts sound off after DOL walks back crypto warning for 401(k)s

The Labor Department's reversal from its 2022 guidance has drawn approval from crypto advocates – but fiduciaries must still mind their obligations.

By Leo Almazora
SEC seeking sanctions for former Florida investment advisor over alleged $17M client fraud
REGULATION AND LEGISLATION MAY 29, 2025
SEC seeking sanctions for former Florida investment advisor over alleged $17M client fraud

Complaint details near decade-long scheme raising almost $40 million from dozens of clients, including Venezuelan nationals, Catholic dioceses, and elderly individuals.

By Leo Almazora
SEC wins court battle against Revered Father Emmanuel Lemelson
REGULATION AND LEGISLATION MAY 29, 2025
SEC wins court battle against Revered Father Emmanuel Lemelson

The controversial hedge fund manager fails to stop the SEC from moving forward with a potential industry ban, after a federal judge rejects constitutional claims.

By Matthew Sellers
Ohio court revives Corpus Christi pension fund's lawsuit over Big Lots activist investors
RETIREMENT PLANNING MAY 28, 2025
Ohio court revives Corpus Christi pension fund's lawsuit over Big Lots activist investors

A public pension fund’s legal fight with activist investors over a $34.6 million Big Lots share sale isn’t over yet. Here’s why the court hit pause on the dismissal.

By Matthew Sellers
Why the off-channel comms problem is far from solved
PRACTICE MANAGEMENT MAY 28, 2025
Why the off-channel comms problem is far from solved

Despite a lighter regulatory outlook and staffing disruptions at the SEC, one compliance expert says RIA firms shouldn't expect a "free pass."

By Leo Almazora
FINRA penalizes another broker dealer for social media miscues
INDEPENDENT BROKER DEALERS MAY 28, 2025
FINRA penalizes another broker dealer for social media miscues

FINRA has been focused on firms and their use of social media for several years.

By Bruce Kelly
Rethink cybersecurity disclosure rule, SIFMA urges SEC
FINTECH MAY 27, 2025
Rethink cybersecurity disclosure rule, SIFMA urges SEC

The industry group and other financial associations called out risks from premature disclosures, overreporting, and bad actors weaponizing the rule's requirements.

By Leo Almazora
'Revenge tax' to hit US allies with tax rules tagged unfair by Trump
REGULATION AND LEGISLATION MAY 27, 2025
'Revenge tax' to hit US allies with tax rules tagged unfair by Trump

A section of the House-approved bill targeting counterparties in decades-old treaties could impact institutional investors, as well as retail participants and businesses with US interests.

By Bloomberg
Don't stop fighting for Retirement Security Rule, financial planning coalition urges DOL
RETIREMENT PLANNING MAY 23, 2025
Don't stop fighting for Retirement Security Rule, financial planning coalition urges DOL

The collective of groups including CFP Board, the FPA, NAPFA, and XYPN called for continued support in a legal battle to reinforce clients' best interests.

By Leo Almazora
As Stifel fights one giant claim involving star Miami broker, it quietly settles others
INDEPENDENT BROKER DEALERS MAY 23, 2025
As Stifel fights one giant claim involving star Miami broker, it quietly settles others

The competing legal strategies appear contrary to Stifel's public statements about defending its structured notes' tactics.

By Bruce Kelly
Florida firm hit with six-figure fine for non-compliant RILA recommendations
RETIREMENT PLANNING MAY 21, 2025
Florida firm hit with six-figure fine for non-compliant RILA recommendations

FINRA says AAG Capital failed to maintain oversight in line with Reg BI, leading some life insurance customers to give up death benefits worth over $100,000 more than the cash surrender value.

By Leo Almazora
SEC, FINRA partnership necessary to 'keep a pulse on the market'
REGULATION AND LEGISLATION MAY 21, 2025
SEC, FINRA partnership necessary to 'keep a pulse on the market'

SEC comissioner Hester Peirce and FINRA CEO Robert Cook stressed the importance of partnership between the two organizations during a recent FSI conference.