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.
In a move to shore up confidence in the banking system, the Fed program will provide banks with one-year loans under easier terms than usual.
The SEC doesn’t care whether advisors or staff are banned from using apps or tools. What’s important to them is that firms fulfill their capture and retention responsibilities.
GOP Rep. Ann Wagner and Democrat Brad Sherman, leaders of a committee with SEC jurisdiction, echo financial industry concerns that the plan will harm retirement savers.
The California bank's problems show how higher interest rates make it harder to keep deposits on the books.
Financial advisors should pay attention to regulators' concerns, since it's often advisors or firm executives who don't follow industry rules to the letter who may be discharged.
Webull Financial failed to conduct adequate due diligence on customers, Finra found, but the company did not admit or deny fault.
CEO Bill Hamm said the net capital deficit of $120,000 shown in IFP's Focus report was the result of accrual accounting.
The proposal, which has little chance of passing Congress, would also raise the top tax rate for Americans making $400,000, to 39.6% from 37%, reversing one of Trump's tax cuts.
Eversheds Sutherland's review of public reports found that Finra's monetary sanctions totaled $72 million last year, down from $150 million in 2021.
Grayscale sued, asking the DC Circuit Court to overturn a decision the firm called arbitrary and discriminatory because the agency had already approved ETFs that track bitcoin futures.
The $1.5 million award to two investors follows a $36.7 million loss for Oppenheimer last September in a dispute involving the Horizon Private Equity III fund.
The president's proposal, which would also give the government new power to negotiate drug prices, would extend the solvency of the Medicare trust fund beyond 2050, the White House says.
