Regulation And Legislation

Displaying 10509 results
Trepidation at SEC as Trump workforce overhaul casts shadow on agency
REGULATION AND LEGISLATION FEB 10, 2025
Trepidation at SEC as Trump workforce overhaul casts shadow on agency

While the regulator's lawyers may be exempt, a federal effort to purge workers is causing uncertainty across its broader employee base.

By Leo Almazora
Advisor fighting Finra banishment loses $17.7 million dispute with old firm
INDEPENDENT BROKER DEALERS FEB 07, 2025
Advisor fighting Finra banishment loses $17.7 million dispute with old firm

National Securities Corp. sued the advisor in 2020, alleging breach of contract and unjust enrichment.

By Bruce Kelly
SEC reassigns top litigator behind crypto lawsuits
ALTERNATIVES FEB 05, 2025
SEC reassigns top litigator behind crypto lawsuits

The agency moved its key man driving actions under former chair Gary Gensler as new leadership works toward more constructive crypto regulation.

By Leo Almazora
SEC lawyers will need leadership's green light for formal probes
REGULATION AND LEGISLATION FEB 03, 2025
SEC lawyers will need leadership's green light for formal probes

In a move that risks slowing down enforcement, staff must reportedly first get a thumbs up from the commission's newly installed Republican-led leadership before formally undertaking investigations.

By Leo Almazora
Andrew Left calls for SEC clarity on public investor statements
ALTERNATIVES JAN 27, 2025
Andrew Left calls for SEC clarity on public investor statements

A petition by the famed short seller argues recent enforcement actions "create a chilling effect on free speech and market participation" in stock trading.

By Leo Almazora
New Hampshire seeks to penalize New England B-D over private placement sales
INDEPENDENT BROKER DEALERS JAN 24, 2025
New Hampshire seeks to penalize New England B-D over private placement sales

The state's order is a step in negotiating a potential fine with the firm.

By Bruce Kelly
SEC bars faith-based advisor who sold phony promissory notes
RIA NEWS JAN 23, 2025
SEC bars faith-based advisor who sold phony promissory notes

The advisor “failed to disclose multiple conflicts of interest and misappropriated client assets," the SEC said.

By Bruce Kelly
SCOTUS hears Cornell case with potential consequences for retirement plan litigation
RETIREMENT PLANNING JAN 23, 2025
SCOTUS hears Cornell case with potential consequences for retirement plan litigation

"Whatever we decide, someone's going to be potentially unfairly treated," Justice Sonia Sotomayor said during oral arguments Wednesday.

By Emile Hallez
Trump's executive orders no golden ticket for energy stocks
EQUITIES JAN 21, 2025
Trump's executive orders no golden ticket for energy stocks

While promising to halt offshore wind projects, open up wild lands for drilling, and cull incentives for electric vehicles, Trump's first round of actions may not necessarily boost energy companies or hold back renewables, observers said.

By Emile Hallez
Mark Uyeda-led SEC launches crypto task force
ALTERNATIVES JAN 21, 2025
Mark Uyeda-led SEC launches crypto task force

The group led by Commissioner Hester Peirce will take input from within and outside the agency to create a clear regulatory framework for crypto assets.

By Leo Almazora
Mark Uyeda appointed acting SEC chair as Gary Gensler steps down
REGULATION AND LEGISLATION JAN 21, 2025
Mark Uyeda appointed acting SEC chair as Gary Gensler steps down

The newly inaugurated Trump White House taps the contrarian commissioner as temporary head amid a slew of walk-outs from the agency.

By Leo Almazora
Vanguard to pay more than $100M over target-date fund violations
RETIREMENT PLANNING JAN 17, 2025
Vanguard to pay more than $100M over target-date fund violations

The mutual fund titan harmed investors by failing to disclose risks relating to capital gains distributions in its retail target-date retirement funds, according to the SEC.

By Leo Almazora
SEC slams Wells Fargo, Merrill with $60 million in penalties over clients’ cash
INDEPENDENT BROKER DEALERS JAN 17, 2025
SEC slams Wells Fargo, Merrill with $60 million in penalties over clients’ cash

“These penalties are certainly significant enough to draw the big firms’ attention," one executive said.

By Bruce Kelly
LPL to pay $18M over AML program deficiencies
INDEPENDENT BROKER DEALERS JAN 17, 2025
LPL to pay $18M over AML program deficiencies

SEC charges describe multiple failures in customer identification programs and shortfalls related to high-risk accounts linked to cannabis and foreign entities.

By Leo Almazora
NYC advisors ignored vulnerabilities in models for four years, fined $90M
REGULATION AND LEGISLATION JAN 17, 2025
NYC advisors ignored vulnerabilities in models for four years, fined $90M

SEC says two firms breached their fiduciary duties and whistleblower rule.

By Steve Randall
IRS, Treasury propose guidance for auto enrollment, catch-up contributions
RETIREMENT PLANNING JAN 15, 2025
IRS, Treasury propose guidance for auto enrollment, catch-up contributions

Provisions of the Secure 2.0 Act took effect Jan. 1, but regulators only last week proposed rules to govern new automatic enrollment requirements for 401(k)s and other plans, as well as new quirks for catch-up contributions.

By Emile Hallez
Clients’ GWG bond claims may be small but pack a wallop
OPINION JAN 14, 2025
Clients’ GWG bond claims may be small but pack a wallop

It's been an awful road for investors in GWG bonds.

By Bruce Kelly
SEC fines investment advisors, broker-dealers $63M for record-keeping failures
ALTERNATIVES JAN 14, 2025
SEC fines investment advisors, broker-dealers $63M for record-keeping failures

12 firms agreed to pay the fines to settle charges.

By Steve Randall
Robinhood fined $45M for multiple violations of securities law
FINTECH JAN 14, 2025
Robinhood fined $45M for multiple violations of securities law

SEC says 10 separate provisions of the law were violated by two firms.

By Steve Randall
401(k) ESG lawsuit order cites 'cartel-like behavior,' could prompt more litigation
RETIREMENT PLANNING JAN 13, 2025
401(k) ESG lawsuit order cites 'cartel-like behavior,' could prompt more litigation

Plaintiffs successfully sued American Airlines over an asset manager's ESG considerations in the proxy-voting process, and that could get the plaintiffs' bar quite interested in filing similar claims against 401(k) sponsors.

By Emile Hallez