Department of Labor investigation found employer failed to forward employees’ contributions.
As the DOL prepares another rule related to fiduciaries, an insurance trade association says access to commission-based advisers is at stake, while an investor advocate criticizes the trade group's poll.
The firm's BNY Investment Adviser subsidiary did not perform ESG quality reviews of investments in mutual funds that it touted as using such strategies.
In its annual audited financial statement, Emerson Equity reported that problems related to an unnamed offering potentially could harm the firm.
The agency says the RIA unit, which breached fiduciary duty over compensation from an affiliate, consented to a cease-and-desist order and a censure.
The firm was more than five months late on average in filing suspicious activity reports involving wire transfers to and from foreign countries suspected of terrorism financing and other illegal money movements.
DOL acting assistant secretary Ali Khawar isn't reassured by the consumer safeguards included in Fidelity's Bitcoin offering for retirement plans.
The Fifth Circuit Court of Appeals said the agency's house of in-house judges violated a hedge fund manager's constitutional right to a jury trial.
RIAs aren't adequately disclosing arbitration clauses in client contracts and are forcing clients into expensive dispute forums, the groups said.
After the partnership missed its deadline to file audited financial statements in 2018 for its two largest private funds, the entire GPB enterprise struggled.
The agency has been sending firms lists of key positions including heads of certain investment banking teams or trading desks.
Voya Investment Management will add about $120 billion of assets under management as well as some investment teams.
The Telemessage technology, combined with existing services from Smarsh, will assist in the ongoing struggle to monitor private messaging apps used by employees at financial services firms.
Firms should be watching out for employees chatting on WhatsApp, as well as brokers in need of heightened supervision and complex products being sold to retail customers.
The agreement calls for the firm to forfeit $463 million and pay $3.2 billion in restitution to victims of the fraud as well as a $2.3 billion penalty.
A California law requiring that publicly held companies have a minimum number of women on their boards was struck down on May 13.
California is looking to expand its auto-IRA program, while Missouri, Arizona and Hawaii are considering joining the club.
'This space, crypto markets, is a highly speculative asset class,' the SEC chairman said Monday at Finra's annual meeting.
The defendants, including two who had been barred from the brokerage industry, pocketed more than $75 million.
Over the years, some have become convinced Reg BI is a significant step up from brokers’ previous suitability standard. Others remain skeptical that it’s tough enough to curb broker conflicts.
