The SEC's current definition of small advisors is 'antiquated,' which means the agency's regulations are not properly calibrated for such firms, the Investment Adviser Association said.
The firm allegedly failed to supervise Joseph Crespi, whose trading activity prompted 135 internal alerts over 12 months, according to the office of Massachusetts Secretary of the Commonwealth William Galvin.
JPMorgan and the FDIC, which orchestrated the sale, agreed to share the burden of losses, as well as any recoveries, on the firm's single-family and commercial loans.
The SEC chair says the views of Republican commissioners can influence rules, even if unanimous support can't be achieved.
With cheerleaders on the left and critics on the right, the chair of the Securities and Exchange Commission stays focused on what matters.
The bidding process could pave the way for a tidier sale of First Republic than the drawn-out auctions that followed the failures of Silicon Valley Bank and Signature Bank last month.
The measure the House passed would require broad spending cuts in return for raising the nation's debt limit, and Biden says he won't entertain strings-attached bargaining to raise the limit.
Rep. Maxine Waters, D-Calif., said she's worried that seniors who aren't tech savvy may not be able to opt out and receive paper disclosures.
The legislation would amend the definition of accredited investor to include people who have certain licenses, education or experience.
Blass, the former head of the SEC's division of investment management, led external affairs at BlackRock for two years.
Many fraudsters are playing off of investors’ fears of economic uncertainty to perpetrate their scams.
Ray Jay and its brokers claimed the German lender failed to pay revenue share and residual trailer fees on commercial loans.
Brokers and investment advisors should thoroughly understand products and clients' financial needs before making recommendations, the SEC said in the bulletin.
The insurer has settled with the Department of Labor; the policies in question were part of employer-sponsored insurance where workers had opted for supplemental coverage.
Republicans on the House Financial Services Committee questioned the SEC leader about the roughly 50 rules the agency has proposed over the past two years.
Disclosure and operating issues impacted more than 25,000 client accounts and resulted in $4 million of potential tax benefits lost, according to the SEC.
William Galvin and Joseph Borg find and respond to violations at the ground level, where their constituents are harmed.
Lawmakers talk about reducing the federal budget, but entitlements are off the table. 'It's not mathematically honest,' Jeff Bush said.
The California auto-IRA program is not only the biggest in the country, but its arrival correlated with a pick-up in new 401(k) plans in the state.
NASAA says Finra's modifications don't do enough to make it harder for brokers to clear customer disputes from their records.
