The Justice Department's antitrust division asked the SEC to consider potential impacts of its proposals, including whether smaller pricing increments could increase competition between exchanges and wholesalers, and whether that might affect brokers' willingness to route orders to wholesalers.
The measure establishes tighter procedures and a special roster of arbitrators to hear brokers' requests to clear their records of customer disputes.
The governor signed an executive order this week that entails only limited practical restrictions on state assets but could have a chilling effect.
As the firm announces a settlement of suits brought by Preston Hollow Community Capital, Nuveen announced that John Miller is retiring and will be replaced by Daniel Close.
Finra arbitrators order the firm and a broker to pay about $500,000 to a former McDonald's franchise owner after an options trading snafu.
Fiduciaries are citing the high costs of legislation restricting the use of ESG, and some state leaders are listening.
Chattanooga, Tennessee-based William F. Winchester III was registered with LPL Financial from 2007 to 2012 and then with Raymond James Financial Services.
A multistate investigation of the problems in 2020 cited Robinhood for technology failures as well as lack of diligence in approving options trading.
Finra's action was another by the broker-dealer self-regulator that targets a best-execution failure by a member firm.
Mutual of America agreed to settle an ERISA excessive fee lawsuit filed by 401(k) participants last week.
The SEC enforcement action is another example of the agency's increased scrutiny of wrap-fee programs.
Critics say proposals that target payment for order flow try to do too much, too fast, and conflict with rules in place that are working.
Open claims against the Iowa-based broker-dealer totaled $32.1 million at the end of 2022, eight times what it reported a year earlier, according to an SEC filing.
Interest both for and against sustainable investing will almost certainly be rising — and that means that financial advisors can’t afford to ignore it.
Each of the measures failed to get enacted in the previous Congress. The tax bill starts off with just GOP support, while the other two come out of the gate with bipartisan backing.
An expansive network of platforms and services has evolved that's designed to support breakaway brokers.
Secretary of the Commonwealth William Galvin, one of the most aggressive state regulators, has issued a subpoena, his spokesperson said.
GOP members of an appropriations subcommittee argue against the agency's request for an increase in its funding.
If financial advisors don't seek the firm's approval, they risk running afoul of securities regulators, Cetera said.
Finra arbitrators ruled on the estate's claim that Morgan Stanley ignored rules laid out by a court for how funds in the estate were to be handled.
