Regulation And Legislation

Displaying 10463 results
Finra smacks Raymond James with $1.15 million penalty over compliance shortcomings
NEWS BROKER DEALERS OCT 21, 2022
Finra smacks Raymond James with $1.15 million penalty over compliance shortcomings

Raymond James Financial Services overlooked 'multiple red flags' related to the activities of two brokers, according to Finra.

By Bruce Kelly
Republicans, Democrats could agree on some adviser issues after midterm elections
NEWS ALTERNATIVES OCT 20, 2022
Republicans, Democrats could agree on some adviser issues after midterm elections

There's some chance that members of both parties will want to open private markets to more ordinary investors.

By Mark Schoeff Jr.
Investment scams targeting the elderly surge, government agency reports
NEWS ALTERNATIVES OCT 20, 2022
Investment scams targeting the elderly surge, government agency reports

The Federal Trade Commission says older Americans lost $147 million in 2021, up 213% from 2020, with crypto rip-offs being a leading culprit.

By Mark Schoeff Jr.
Alaska slaps ‘adviser’ with $7.4 million in penalties
NEWS REGULATION AND LEGISLATION OCT 20, 2022
Alaska slaps ‘adviser’ with $7.4 million in penalties

Garrett Elder and his Tycoon Trading firm also ordered to pay $7.4 million in restitution for issuing and selling unregistered securities.

By InvestmentNews
IRS gives more clarity on how to report digital assets
NEWS ALTERNATIVES OCT 19, 2022
IRS gives more clarity on how to report digital assets

In the 2022 tax form draft instructions, the agency explicitly says that digital assets include NFTs and virtual currencies.

By Bloomberg
Swamped by legal costs, broker-dealer files for bankruptcy protection
NEWS ALTERNATIVES OCT 19, 2022
Swamped by legal costs, broker-dealer files for bankruptcy protection

Atlanta-based Kalos Capital has been crushed by more than $9 million in legal fees and costs related to sales of GPB private placements.

By Bruce Kelly
House GOP uses SEC comment glitch to question agency's agenda
NEWS REGULATION AND LEGISLATION OCT 18, 2022
House GOP uses SEC comment glitch to question agency's agenda

Republicans on the House Financial Services Committee give a preview of the pressure they're likely to apply to SEC Chairman Gary Gensler if the party takes over the House in the midterm elections.

By Mark Schoeff Jr.
Lead broker-dealer seller of GWG L bonds sues its insurers
NEWS ALTERNATIVES OCT 18, 2022
Lead broker-dealer seller of GWG L bonds sues its insurers

'No one is going to want to settle with broker-dealers over GWG claims until the bankruptcy is resolved,' an attorney said about the lawsuit filed by Emerson Equity.

By Bruce Kelly
SEC bars California adviser, imposes $400,000 penalty
NEWS REGULATION AND LEGISLATION OCT 18, 2022
SEC bars California adviser, imposes $400,000 penalty

The agency settles with Sacramento-based Keith Springer and his firm, Springer Investment Management, over fraud charges.

By InvestmentNews
Financial industry must persuade determined DOL to protect independent-contractor advisers
NEWS BROKER DEALERS OCT 13, 2022
Financial industry must persuade determined DOL to protect independent-contractor advisers

The Department of Labor may not be inclined to change a proposal that would potentially upend the business model for independent broker-dealers and insurance agents.

By Mark Schoeff Jr.
Finra slaps $5,000 fine on ex-broker in first Reg BI enforcement action
NEWS REGULATION AND LEGISLATION OCT 12, 2022
Finra slaps $5,000 fine on ex-broker in first Reg BI enforcement action

The case demonstrates that Finra has more latitude to purse excessive trading violations, says a former head of enforcement.

By Mark Schoeff Jr.
SEC's technical glitch won’t slow rulemaking, experts say
NEWS REGULATION AND LEGISLATION OCT 10, 2022
SEC's technical glitch won’t slow rulemaking, experts say

The SEC is extending the comment periods on 11 rulemaking proposals and one request for comment due to problems with the electronic comment form on the agency’s website.

By Mark Schoeff Jr.
Ben Bernanke, two colleagues awarded Nobel Prize in Economics
NEWS REGULATION AND LEGISLATION OCT 10, 2022
Ben Bernanke, two colleagues awarded Nobel Prize in Economics

By honoring Bernanke, the prize committee have taken an unusual step of adding an actual practitioner of economics policy to their pantheon.

By Bloomberg
A marketing conundrum
NEWS RIAS OCT 10, 2022
A marketing conundrum

Hitting the sweet spot between taking advantage of new marketing opportunities and staying in compliance with the SEC marketing rule will be a big challenge for advisers.

By Mark Schoeff Jr.
State regulators look to keep pace with SEC marketing rule
NEWS PRACTICE MANAGEMENT OCT 10, 2022
State regulators look to keep pace with SEC marketing rule

The North American Securities Administrators Association is working on a model rule that 'mirrors' the SEC regulation.

By Mark Schoeff Jr.
DOL set to finalize ESG rule for retirement plans
NEWS RETIREMENT PLANNING OCT 07, 2022
DOL set to finalize ESG rule for retirement plans

The final rule is coming out at a time when sustainable investing has become a political flashpoint.

By Emile Hallez
Joe Biden lights up marijuana stocks
NEWS ALTERNATIVES OCT 07, 2022
Joe Biden lights up marijuana stocks

The presidential pardon for those with marijuana convictions was interpreted as a step toward federal decriminalization and sparked a rally in funds offering exposure to cannabis companies.

By Jeff Benjamin
New ETFs would package best, worst of Jim Cramer's stock picks
NEWS EQUITIES OCT 06, 2022
New ETFs would package best, worst of Jim Cramer's stock picks

Tuttle Capital Management is seeking SEC approval to launch two active ETFs populated with the 'Mad Money' host's favorite stocks.

By Jeff Benjamin
Finra moving to slimmed down headquarters in D.C.
NEWS REGULATION AND LEGISLATION OCT 06, 2022
Finra moving to slimmed down headquarters in D.C.

The change will offer the regulator's employees a hybrid approach that combines in-office and remote work.

By Bruce Kelly
Colorado regulators mulling update to guidance on financial planning fees
NEWS REGULATION AND LEGISLATION OCT 06, 2022
Colorado regulators mulling update to guidance on financial planning fees

Groups like XY Planning Network and the CFP Board view a document from the state's Division of Securities as undermining fee-for-service models.

By Mark Schoeff Jr.