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.
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.
