The Federal Reserve banned the former bank employees for fraudulently obtaining loans designed to provide economic relief to small businesses during the pandemic.
The settlement, filed in U.S. District Court for the District of Minnesota, relates to the 401(k) plan's use of the bank's own offerings.
Petitions to confirm or vacate awards are now more likely to be heard in state courts, where judges tend to be more skeptical of arbitration than their federal counterparts.
Massachusetts adviser Richard Duncan got two clients to invest in a scam that originated in Turkey.
Under Biden's plan, wealthy individuals would owe taxes on the unrealized gains of their assets, in addition to realized gains, a change that would upend long-standing tax principles.
The judge says the insurer didn’t violate its fiduciary duty by retaining agreed-upon investments.
Michael Kitces says Massachusetts chief securities regulator William Galvin misfired by trying to impose fiduciary duty on brokers. Robinhood celebrates its win.
The SEC will be on guard against greenwashing, and it also will probe RIAs regarding revenue sharing, 12b-1 fees and wrap-fee accounts.
Proposed legislation in Kentucky that would tax services including financial planning and investment management could significantly harm the way Kentuckians save and plan for retirement.
Advisers don't always have to recommend the least expensive option, but they'd better explain why they opted for the costlier one.
Vania May Bell is former chief compliance officer of Executive Compensation Planners Inc., where her father was president.
Blank-check companies would be required to disclose more information about their sponsors and potential conflicts of interest under the agency's new plan.
Supporters of the legislation, which would raise the RMD age to 75, are pushing for Senate action to get a final bill to President Biden later this year.
The measure would be another piece of Senate legislation that complements the SECURE 2.0 bill poised for House approval.
The proposal, which goes after households worth at least $100 million, enters unprecedented territory by trying to tax unrealized gains.
According to the SEC, Ambassador Advisors generated at least $777,000 in fees by investing in 12b-1 share classes when other share classes were available for the same mutual fund.
The Menlo Park, California-based company announced a new debit card last week, complete with a spare change investing feature, after reaching a settlement with the Vermont Department of Financial Regulation over lax oversight and service outages.
Competitors, who couldn’t figure out how Morgan Stanley was bidding for block trades at such tight discounts, are now swapping 'I told you so’s.'
The tax, dubbed the Billionaire Minimum Income Tax by the White House, would hit both the income and unrealized gains of U.S. households worth more than $100 million.
The talk show host is pushing back against Wells Fargo in a fight for control over her accounts.
