The identical twin brothers overbilled for advisory fees and used their clients' credit cards and bank accounts to finance luxury hotels, jewelry and apparel.
The political makeup doesn’t bode well for passing major tax legislation — and a bill that imposes a specific levy on billionaires would be substantial.
The SEC chairman said using predictive data technologies may create 'inherent conflicts' of interest for investment advisors.
The regulation is safe thanks to a pending veto of the resolution approved by the House and Senate, but the vote adds some political uncertainty for plan advisors.
The advisor, Ryan R. Riley, also pleaded guilty in a criminal manner and was ordered to pay restitution of at least $434,000.
The bill to block a Labor Department rule making it easier for retirement plans to weigh ESG issues in investment decisions passed 50-46, with two Democrats voting with Republicans to pass the measure.
The regulator releases an update to an exam sweep probing how member firms tout themselves on social media.
LPL's disclosure follows a crackdown by US regulators on financial firms' failure to monitor employee communications on messaging apps.
In its arbitration claim, Schwab accused Morgan Stanley and the two brokers who joined Morgan Stanley of violating a non-solicitation agreement.
Su, who would become the first Asian American Cabinet secretary in Biden’s administration, would replace Marty Walsh.
The annuity sector trade association is advocating for legislation that would mandate retirement plans for small employers that don't have them, as well as bills that would increase the use of annuities.
A Republican resolution to kill the DOL ESG rule could come up for a vote soon. Democrats counter with legislation to codify the regulation.
An attorney for the independent reps said the decision has implications for the entire sector. The brokerage, NexTrend Securities, may seek to vacate the award.
The firm lost the huge arbitration decision, which was decided by a Finra panel, last year to eight investors who were sold a private equity fund by a former Oppenheimer broker, John Woods.
While Florida and Texas rail against sustainability, Democrats and Republicans in other states are embracing it.
The SEC and the CFTC are looking at the bank's retention of employee communications related to the use of unapproved messaging apps, it disclosed in a filing.
Laidlaw & Co., with eight branch offices and 75 registered reps, was fined $200,000, according to Finra.
The church and its investment arm, Ensign Peak Advisers, created 13 limited liability corporations to obscure the size of the church's portfolio.
The SEC has proposed using swing pricing and a hard close for share purchases to protect investors during market meltdowns. Critics warn changes could ruin mutual funds.
The SEC alleges the longtime Boston Celtic touted a crypto token without disclosing that he was paid to do so.
