The bank remains committed to turning itself around after a series of scandals, but implementing all its plans will take time, Scharf said in prepared testimony for a congressional committee hearing.
The move aligns state policy with a Finra initiative that extended the grace from two to five years as long as brokers stay current on continuing education.
When the bank replaced hard drives and servers, it improperly disposed of thousands of devices, compromising the personal data of about 15 million clients.
A risk alert released Monday gives advisers a preview of how the agency will assess compliance with the regulation, which overhauls advertising restrictions for the first time in 60 years.
Finra's rule proposal would tighten the process for clearing customer disputes from broker records, but NASAA is not yet on board.
Last week, Judge Rodolfo Ruiz gave the SEC 10 days to negotiate a settlement with Par Funding founders Joseph LaForte and his wife, Lisa McElhone.
The SEC chief wants to wring cost savings out of the middle of the financial markets, where intermediaries make money.
A pair of exchange-traded funds would analyze the financial disclosure of lawmakers from both parties and their spouses and dependent children.
A group of 13 signed an open letter that calls out moves against ESG criteria being used in investing public money as politically motivated.
Chicago’s Loop Capital Markets helped an unnamed Midwestern city buy fixed-income securities.
The top Republican on the Senate Banking Committee pressed the SEC chair to scrap an agency proposal to require climate reporting by public companies.
Oppenheimer's charge of "evident partiality" by an arbitrator in the $36.7 million decision it lost last week revisits the question of fairness in arbitration proceedings.
During Fiduciary September, the head of the Institute for the Fiduciary Standard worries that the SEC is eroding the standard.
Regulators, analysts and financial advisers worry the easy access to enhanced performance will hurt unsophisticated investors.
The Wells Fargo retirement plan paid more than fair market value for stock that diminished participants' savings when it was allocated to their accounts.
James K. Couture of Massachusetts pleaded guilty to four counts of wire fraud, four counts of aggravated identity theft, one count of investment adviser fraud and one count of witness tampering.
The firm failed to report positions to the Large Options Positions Reporting system in more than 7.4 million instances.
The firms managed private funds and fell short of custody compliance by failing to give investors audited financial statements about the funds.
The actions outlined in Finra settlement with Sanctuary predate Sanctuary’s acquisition of David A. Noyes, a company spokesperson notes.
Broker and adviser standards of conduct differ in some respects but should result in the same outcome for investor protection, an agency official said.
