Citi alleges Steven Taub is violating a 12-month nonsolicitation agreement and has already convinced clients to move more than $100 million.
Four people face federal indictments in the scheme, and the former advisor is being charged by the SEC.
The agency's document requests seek details on how firms monitor, review and retain 'off-channel' communications — all the way up to the senior executive level.
The rep at Hornor Townsend & Kent sold securities known as Future Income Payments; according to the Department of Justice, that was a nationwide Ponzi scheme.
Sen. Elizabeth Warren, D-Mass., and three colleagues urge Treasury Secretary Janet Yellen to curb the use of grantor retained annuity trusts in the name of tax fairness.
The Treasury Secretary's comments come amid heightened worries about financial stability after the collapse of two US banks and UBS' deal to buy troubled Swiss rival Credit Suisse.
The organization urges viewers to hire a CFP — 'It's gotta be a CFP' — in its most direct appeal since the public awareness campaign launched more than a decade ago.
The attorney for Massachusetts-based Jeffrey Cutter fires back at SEC, saying the agency is 'flat out wrong' and accusing it of trying to 'get a toehold into regulating the insurance industry.'
The measure would have rescinded the DOL rule allowing retirement plans to consider environmental, social and governance issues in their investment decisions.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.
