The measure would have rescinded the DOL rule allowing retirement plans to consider environmental, social and governance issues in their investment decisions.
The UBS deal to acquire its banking rival, along with the continued drop in the share price of First Republic Bank, could mean a further shake-up in the US wealth management market.
The regulator said that it's seen 'substantial interest' from multiple potential buyers.
The rating agency lowered the bank's long-term issuer credit rating to B+ from BB+, having already downgraded the lender to junk last Wednesday.
The InvestmentNews staff plans to ask policy and financial experts in the coming months about their vision for the future of Social Security in the 21st century.
The Swiss bank is reportedly paying more than $2 billion for its rival in an all-share deal priced at a fraction of Credit Suisse's close on Friday.
The trade association is seeking to change the basis for the SEC's definition of 'small' from assets under management to another metric, such as employees.
Silicon Valley Bank's parent company filed for Chapter 11 after the bank was placed in FDIC receivership last week.
The plan, which the banks devised with US regulators, is meant to stave off a widening panic in the wake of regulators' seizure of Silicon Valley Bank and Signature Bank over the past week.
State regulators cite brokers' outside business activities and 'off-channel communications' as two areas that can't be overseen from afar.
The bank says Fed isn’t done with hiking and sees another rate increase next week.
The proposal is similar to one the SEC released last year that focuses on investment advisors. The SEC also extended the comment period for the advisor proposal.
The SEC's amendment to rule 17a-4 represents a tremendous opportunity to bring firms' record-keeping systems into the 21st century.
In an effort to prove they're anti-woke, Republicans are ignoring risk factors that could affect returns, not to mention market signals.
'Having the interaction with registrants is really critical,' Natasha Vij Greiner, deputy director of the SEC's Division of Examinations, told an Investment Adviser Association conference.
The trade association is trying to insert language into capital formation legislation that would deem investors accredited if they work with a fiduciary advisor.
'It doesn’t require literally a bible or book of every single claim made in any ad ever to be retained forever,' Thoreau Bartmann, an SEC counsel, told an Investment Adviser Association conference in Washington.
Keeping tabs on texts and messaging has been difficult for the industry, and fines have been mounting.
Financial advisors look for creative ways to keep client cash accounts from going over the $250,000 limit on FDIC coverage.
The firm says it has sufficient liquidity to handle any volatility and that more than 80% of deposits are insured by the FDIC.
