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.
It’s not clear when the agency will announce its first major enforcement actions regarding recommendations brokers make to customers, the substantive heart of the regulation.
Ian Delahunty bought a leveraged exchange-traded note and owned it for 199 days rather than the day or two it was meant to be held.
Steven F. Muntin, 57, had his own independent RIA, Executive Asset Management Inc., which had $26 million in client assets, according to the SEC.
Brokerage and fund trade associations caution against limiting the market for retail customers. Consumer group and state regulators say more oversight is needed to protect investors.
Fidelity wants to make it easier to allocate 401(k) assets into Bitcoin, while the Department of Labor is warning plan fiduciaries to be extremely careful about using crypto.
