Regulation And Legislation

Displaying 10552 results
Ex-Osaic advisor fined over failure to declare $1M bequest
INDEPENDENT BROKER DEALERS MAY 20, 2025
Ex-Osaic advisor fined over failure to declare $1M bequest

The New York-based advisor, formerly affiliated with Securities America, has also been suspended for failing to disclose his status as a beneficiary.

By Leo Almazora
SEC looks to revisit private fund investment rules
ALTERNATIVES MAY 19, 2025
SEC looks to revisit private fund investment rules

The agency's new chairman Paul Atkins says "common-sense" review of 23-year-old restrictions could unlock the $31 trillion industry to more investors.

By Bloomberg
New Jersey court says restitution and disgorgement can both be used in securities fraud cases 
REGULATION AND LEGISLATION MAY 16, 2025
New Jersey court says restitution and disgorgement can both be used in securities fraud cases 

A New Jersey appellate court reinstates regulators' ability to seek both restitution and disgorgement in a securities fraud case involving unregistered investments and diverted investor funds. 

By Matthew Sellers
UBS loses Ocean Capital lawsuit 
REGULATION AND LEGISLATION MAY 16, 2025
UBS loses Ocean Capital lawsuit 

A federal appeals court has sided with activist investors in a closely watched proxy battle involving nine Puerto Rico municipal bond funds.

By Matthew Sellers
Fidelity National's $250 million investment in F&G Annuities survives Delaware shareholder lawsuit 
REGULATION AND LEGISLATION MAY 16, 2025
Fidelity National's $250 million investment in F&G Annuities survives Delaware shareholder lawsuit 

Judge rejects shareholder lawsuit targeting Fidelity's preferred stock deal.

By Matthew Sellers
Crypto, collectibles, and lending should count in outside business oversight, NASAA tells Finra
REGULATION AND LEGISLATION MAY 16, 2025
Crypto, collectibles, and lending should count in outside business oversight, NASAA tells Finra

State regulators coalition urge additions to proposed rule change, including activities at unaffiliated investment advisers and stricter recordkeeping.

By Leo Almazora
What should RIAs have on their regulatory radar right now?
RIA NEWS MAY 14, 2025
What should RIAs have on their regulatory radar right now?

With a new regime at the SEC, Savvy Wealth's Lisandra Wilmott speaks out on ongoing and unfolding risks around off-channel communications, AI, and private market investments.

By Leo Almazora
LPL faces states' regulatory actions on emails, chat app snafus
INDEPENDENT BROKER DEALERS MAY 08, 2025
LPL faces states' regulatory actions on emails, chat app snafus

The firm has been dogged by compliance issues for years, resulting in multiple fines by various regulatory bodies.

By Bruce Kelly
SEC shuts probe into Morgan Stanley cash sweep program with no enforcement action
WIREHOUSES MAY 08, 2025
SEC shuts probe into Morgan Stanley cash sweep program with no enforcement action

Wall Street giant avoids penalties as regulator ends yearlong review of interest treatment on idle client cash.

By Leo Almazora
Finra extends feedback period on rule modernization
REGULATION AND LEGISLATION MAY 08, 2025
Finra extends feedback period on rule modernization

Regulator wants to know which rules are outdated

By Steve Randall
Trump administration's downsizing push hits thousands of Wall Street cops
REGULATION AND LEGISLATION MAY 07, 2025
Trump administration's downsizing push hits thousands of Wall Street cops

Buyouts, layoffs, early retirements, and hiring freezes have added up to the steepest cuts in decades at the SEC and other federal agencies.

By Bloomberg
Helping wealthy Americans evade tax just cost Credit Suisse $511M
REGULATION AND LEGISLATION MAY 06, 2025
Helping wealthy Americans evade tax just cost Credit Suisse $511M

Action follows years of investigation by US law enforcement.

By Steve Randall
B. Riley discloses Finra exam of wealth management business
REGULATION AND LEGISLATION APR 30, 2025
B. Riley discloses Finra exam of wealth management business

The Finra filing cited an arbitration which involved seven claimants seeking compensation for alleged securities law violations.

By Bloomberg
Jury finds Massachusetts advisor liable for annuity disclosure shortfalls
LIFE INSURANCE AND ANNUITIES APR 24, 2025
Jury finds Massachusetts advisor liable for annuity disclosure shortfalls

The SEC hailed the verdict against the investment advisor, who the agency said breached his fiduciary duty to retired and pre-retiree clients.

By Leo Almazora
Rogue rep, formerly with United Planners', keeps costing firm damages
INDEPENDENT BROKER DEALERS APR 22, 2025
Rogue rep, formerly with United Planners', keeps costing firm damages

United Planners' costs related to lawsuits and regulators' actions into the advisor continue to rise.

By Bruce Kelly
Finra unveils new initiatives in efficiency, modernization push
REGULATION AND LEGISLATION APR 21, 2025
Finra unveils new initiatives in efficiency, modernization push

Smaller firms and hybrid advisors may see relief as Finra looks to ease compliance burdens and update its oversight approach.

By Leo Almazora
SEC, CFTC under greater Trump control from today but CFPB layoffs are paused
REGULATION AND LEGISLATION APR 21, 2025
SEC, CFTC under greater Trump control from today but CFPB layoffs are paused

Financial regulators face hurdles to implement new rules

By Steve Randall
Former UBS rep secretly borrowed from client to fund ice cream business
REGULATION AND LEGISLATION APR 16, 2025
Former UBS rep secretly borrowed from client to fund ice cream business

Loan agreements, including one made with a senior client, were also used to fund unapproved advertising ventures as well as personal expenses, according to Finra.

By Leo Almazora
Indiana court overturns $3M CBIZ award in Zotec M&A legal clash
REGULATION AND LEGISLATION APR 15, 2025
Indiana court overturns $3M CBIZ award in Zotec M&A legal clash

A $3.1 million attorney fee award in CBIZ’s favor was reversed after an Indiana appellate court ruled Zotec had not breached its acquisition contract merely by bringing claims.

By Matthew Sellers
Wisconsin court rejects Utah venue clause in receiver’s bid to claw back MCA payments
REGULATION AND LEGISLATION APR 15, 2025
Wisconsin court rejects Utah venue clause in receiver’s bid to claw back MCA payments

The Wisconsin Court of Appeals ruled that a receiver can recover over $137,000 in alleged preferential payments from a Utah funder, despite forum and choice-of-law clauses in merchant cash advance agreements.

By Matthew Sellers