Regulation And Legislation

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SEC workforce to get decimated as hundreds take buyout offers
REGULATION AND LEGISLATION MAR 24, 2025
SEC workforce to get decimated as hundreds take buyout offers

Up to 700 employees have reportedly accepted the Trump administration's $50,000 incentive, raising questions about the agency's ability to function in the future.

By Leo Almazora
Cambridge hit with $15M penalty over conflicted fund recommendations
RIA NEWS MAR 21, 2025
Cambridge hit with $15M penalty over conflicted fund recommendations

SEC complaint charges RIA with fiduciary breaches over client assets invested in mutual funds and money market sweep funds that created millions of dollars in revenue-sharing payments to broker dealer appropriate.

By Leo Almazora
SEC unveils Marketing Rule guidelines around private investments, performance reporting
ALTERNATIVES MAR 20, 2025
SEC unveils Marketing Rule guidelines around private investments, performance reporting

New guidance addresses some areas of ambiguity for investment firms, but they may require a revamp for some materials.

By Leo Almazora
Ex-Wells Fargo advisor fined over $50,000 fund transfer requested by client with dementia
REGULATION AND LEGISLATION MAR 20, 2025
Ex-Wells Fargo advisor fined over $50,000 fund transfer requested by client with dementia

Finra settlement says the advisor failed to inform his former employer about the client's condition until after he resigned.

By Leo Almazora
SEC accuses RIA firm, owner of violating settlement in multi-year fraud
RIA NEWS MAR 18, 2025
SEC accuses RIA firm, owner of violating settlement in multi-year fraud

Commission says that fund and its investors lost $1.6M as a result.

By Steve Randall
Stifel loses another hefty arbitration case – this time to ex-advisors
INDEPENDENT BROKER DEALERS MAR 17, 2025
Stifel loses another hefty arbitration case – this time to ex-advisors

This dispute centered on a group of Stifel Financial advisors who left the firm two years ago to an RIA.

By Bruce Kelly
Is FINRA on the ropes?
REGULATION AND LEGISLATION MAR 13, 2025
Is FINRA on the ropes?

The current legal battle with a broker-dealer, Alpine Securities, is the latest challenge for the industry regulator.

By Bruce Kelly
Citing 'egregious conduct,' Finra panel awards Stifel clients a stunning $132.5 million
PRACTICE MANAGEMENT MAR 13, 2025
Citing 'egregious conduct,' Finra panel awards Stifel clients a stunning $132.5 million

“The arbitration panel really threw the book at Stifel,” according to one plaintiff’s attorney.

By Bruce Kelly
Compliance officers not immune from the market's manic behavior
PRACTICE MANAGEMENT MAR 11, 2025
Compliance officers not immune from the market's manic behavior

Changes in regulations are keeping compliance officers busy. Here's how they are keeping up.

By Gregg Greenberg
Roll back Gensler-era rules, private funds industry urges SEC
ALTERNATIVES MAR 11, 2025
Roll back Gensler-era rules, private funds industry urges SEC

A new policy proposal from the Managed Funds Association lays out requests to reduce disclosure requirements and offer legal clarity on crypto ownership, among other priorities.

By Leo Almazora
Finra not folding its tent any time soon: attorney
INDEPENDENT BROKER DEALERS MAR 11, 2025
Finra not folding its tent any time soon: attorney

Meanwhile, Finra’s fines against the brokerage industry declined in 2024.

By Bruce Kelly
Robinhood has racked up penalties of more than $1M a day so far in 2025
FINTECH MAR 10, 2025
Robinhood has racked up penalties of more than $1M a day so far in 2025

Finra has hit the investing platform with another multi-million-dollar penalty.

By Steve Randall
Finra moves to bar ex-Wells Fargo employee charged with identity theft
WIREHOUSES MAR 07, 2025
Finra moves to bar ex-Wells Fargo employee charged with identity theft

Calvin Gray repeatedly impersonated victims who were customers of a number of other banks and financial institutions, according to a federal indictment.

By Bruce Kelly
NASAA flags crypto scams, social media schemes among top investor threats for 2025
REGULATION AND LEGISLATION MAR 06, 2025
NASAA flags crypto scams, social media schemes among top investor threats for 2025

The regulatory association's annual list highlights risk from tech-powered fraud and affinity scams, with an expected uptick in the weaponization of AI.

By Leo Almazora
GPB paid convicted top executives legal fees of $75M
ALTERNATIVES MAR 05, 2025
GPB paid convicted top executives legal fees of $75M

And GPB founder David Gentile and ex-broker-dealer chief Jeff Schneider want the company to continue paying legal expenses.

By Bruce Kelly
Wall Street banks avoid court battle as toothless CFPB withdraws lawsuit
REGULATION AND LEGISLATION MAR 05, 2025
Wall Street banks avoid court battle as toothless CFPB withdraws lawsuit

The agency is fighting for its existence having been forced to pause operations.

By Steve Randall
Commonwealth, SEC battle over $93 million in penalties hits home stretch
RIA NEWS MAR 04, 2025
Commonwealth, SEC battle over $93 million in penalties hits home stretch

In 2019, the SEC claimed Commonwealth had breached its fiduciary duty.

By Bruce Kelly
Social Security Administration cuts are a move toward privatization, Wyden says
RETIREMENT PLANNING MAR 03, 2025
Social Security Administration cuts are a move toward privatization, Wyden says

With big staff cuts coming to an agency already struggling to provide customer service, Social Security claimants should begin preparing, advisors said.

By Emile Hallez
UBS on the hook for $92.2 million in damages linked to advisor’s short sales of Tesla
EQUITIES MAR 03, 2025
UBS on the hook for $92.2 million in damages linked to advisor’s short sales of Tesla

The Finra panel found UBS Financial Services liable for $69.1 million in punitive damages.

By Bruce Kelly
SEC dangles $50,000 resign-or-retire incentive for employees
REGULATION AND LEGISLATION MAR 03, 2025
SEC dangles $50,000 resign-or-retire incentive for employees

A memo from SEC COO Ken Johnson gives staff several weeks to accept a voluntary separation package or early retirement.

By Bloomberg