The Investment Adviser Association and SIFMA say a proposed 30-day requirement is too short. But Better Markets says it should be shortened to 14 days.
Advisors will likely face more stringent compliance requirements as a result of the SEC's actions and may need to reassess their compliance programs to adequately address the unique risks associated with digital assets.
The hearing showed that Republicans and Democrats don't agree on what 'choice' means in the context of investing.
But the claimants likely received a substantial damage payment as part of the agreement to overturn the decision.
Clayton took a swipe at the current leadership of the Securities and Exchange Commission for swinging too far in the wrong direction.
Both federal and state officials drilled in on the firm's staking program, which offers customers a return for letting their tokens be used to facilitate blockchain transactions.
The case, which is seeking class status, also names Fidelity and Financial Engines as defendants.
The legislation mandates that the SEC think beyond current income and wealth thresholds to define the sophisticated investors who are qualified to buy private securities.
Regulator’s suit comes day after the agency sued crypto platform Binance for a wider set of violations.
Both CellTrust and ionLake provide compliant text messaging and archiving for advisors. CellTrust accused ionLake of violating its patents, but the jury disagreed.
The lawsuit seeks $150 million in damages from the radio host over ads for a timeshare exit business that listeners say failed to extricate them from timeshare contracts.
The agency has for months been probing whether Binance illegally sold digital coins as the exchange was getting off the ground in 2017.
Park Avenue Securities fell short in its supervision of a rep who helped operate a cannabis business, the regulator says.
The 63-36 vote on the bill Thursday night was carried by moderates in both parties; the legislation now goes to President Biden to sign.
The legislation seems to strike a balance between concerns about allowing ordinary investors to buy private placements and creating opportunities for them to diversify their portfolios.
Investor harm is occurring among so-called sophisticated investors, and strong guardrails must be put in place if access to unregistered securities becomes easier for retail investors.
The legislation would force the SEC to calibrate compliance costs for small and growing businesses, including advisory firms.
The deal now heads to the Senate, where approval is virtually certain; Senate GOP leader Mitch McConnell said the measure could be voted on as soon as Thursday.
The state is poised to go much further on emissions reporting than the Securities and Exchange Commission.
The money from fines, along with funds from its reserves and excess operating revenue, allowed the regulator to finance $111.4 million in projects to improve its examination and enforcement efforts.
