Regulation And Legislation

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Social Security Administration cuts are a move toward privatization, Wyden says
RETIREMENT PLANNING MAR 03, 2025
Social Security Administration cuts are a move toward privatization, Wyden says

With big staff cuts coming to an agency already struggling to provide customer service, Social Security claimants should begin preparing, advisors said.

By Emile Hallez
UBS on the hook for $92.2 million in damages linked to advisor’s short sales of Tesla
EQUITIES MAR 03, 2025
UBS on the hook for $92.2 million in damages linked to advisor’s short sales of Tesla

The Finra panel found UBS Financial Services liable for $69.1 million in punitive damages.

By Bruce Kelly
SEC dangles $50,000 resign-or-retire incentive for employees
REGULATION AND LEGISLATION MAR 03, 2025
SEC dangles $50,000 resign-or-retire incentive for employees

A memo from SEC COO Ken Johnson gives staff several weeks to accept a voluntary separation package or early retirement.

By Bloomberg
A crypto-friendlier SEC says meme coins aren't securities
ALTERNATIVES FEB 28, 2025
A crypto-friendlier SEC says meme coins aren't securities

So-called meme coins, including those launched by the president and first lady, fail the SEC's Howey Test, the agency said.

By Emile Hallez
Federal downsizing wave continues with 'significant' job cuts at Social Security Administration
RETIREMENT PLANNING FEB 28, 2025
Federal downsizing wave continues with 'significant' job cuts at Social Security Administration

Report of a Thursday memo announcing 30,000 layoffs adds to uncertainty for retirees relying on benefits.

By Leo Almazora
CFPB dropping Capital One lawsuit alleging it cost customers $2B in lost interest
REGULATION AND LEGISLATION FEB 27, 2025
CFPB dropping Capital One lawsuit alleging it cost customers $2B in lost interest

The consumer protection watchdog had previously launched a legal action accusing the bank of misleading customers on the interest rates it offers on savings accounts.

By Leo Almazora
SEC charges allege much of investors' $4M was spent on skin care, adult service
REGULATION AND LEGISLATION FEB 27, 2025
SEC charges allege much of investors' $4M was spent on skin care, adult service

Accused claimed to be a wealthy hedge fund owner to gain trust.

By Steve Randall
SEC reportedly cutting regional director roles as DOGE efforts continue
REGULATION AND LEGISLATION FEB 25, 2025
SEC reportedly cutting regional director roles as DOGE efforts continue

Inside sources report rising internal concerns at the federal securities agency amid the unit's unrelenting campaign to cull inefficiencies across government.

By Leo Almazora
Coinbase says SEC is ready to drop enforcement case
ALTERNATIVES FEB 21, 2025
Coinbase says SEC is ready to drop enforcement case

The crypto exchange giant says the dismissal, which is still pending approval, would "right a major wrong" and pave the way for constructive rulemaking.

By Leo Almazora
Trump executive order gives White House influence over SEC rulemaking
REGULATION AND LEGISLATION FEB 20, 2025
Trump executive order gives White House influence over SEC rulemaking

The order weighing on the federal agency's independence could also have implications on enforcement activity, concerned observers say.

By Leo Almazora
Deloitte highlights regulatory concerns for wealth firms in 2025
PRACTICE MANAGEMENT FEB 19, 2025
Deloitte highlights regulatory concerns for wealth firms in 2025

Despite a laxer regulatory direction under the Trump administration, the consultancy is warning RIAs against marketing rule and fiduciary standard complacency.

By Leo Almazora
What's next for crypto ETFs: Litecoin, XRP, Solana, and Dogecoin
ALTERNATIVES FEB 19, 2025
What's next for crypto ETFs: Litecoin, XRP, Solana, and Dogecoin

The SEC is reviewing ETF applications and proposed rule changes at various exchanges for alternatives to bitcoin and Ether. Approval for some may be likely, but whether investors want the options is a question.

By Emile Hallez
Convicted of fraud, GPB executives object to plans to return money to investors
ALTERNATIVES FEB 19, 2025
Convicted of fraud, GPB executives object to plans to return money to investors

Gentile and Schneider were convicted of fraud and conspiracy after a seven week trial in federal court in Brooklyn.

By Bruce Kelly
What DOGE will risk in cutting at the SEC
REGULATION AND LEGISLATION FEB 18, 2025
What DOGE will risk in cutting at the SEC

Any government agency, including the SEC, could be made more efficient, lawyers said. But getting rid of knowledgeable staff may have long-term consequences.

By Emile Hallez
60-year-old New York broker-dealer files bankruptcy, closes down
INDEPENDENT BROKER DEALERS FEB 18, 2025
60-year-old New York broker-dealer files bankruptcy, closes down

Stoever, Glass & Co. Inc. opened in May 1964 and focused on municipal bonds.

By Bruce Kelly
Musk's DOGE 'at the gates' of the SEC
REGULATION AND LEGISLATION FEB 18, 2025
Musk's DOGE 'at the gates' of the SEC

Anonymous sources report the efficiency initiative is expected to turn its focus to the federal securities agency in the days ahead.

By Leo Almazora
New York RIA, former rep fined combined $225K by SEC for breaching fiduciary duties
RIA NEWS FEB 18, 2025
New York RIA, former rep fined combined $225K by SEC for breaching fiduciary duties

Elderly clients impacted in transfers to higher-fee advisory accounts.

By Steve Randall
Finra sanctions smoothie-throwing broker over alleged cash reporting failures
INDEPENDENT BROKER DEALERS FEB 13, 2025
Finra sanctions smoothie-throwing broker over alleged cash reporting failures

But the Finra panel's decision against James Iannazzo was not unanimous.

By Bruce Kelly
SEC moves to keep ESG shareholder resolutions off proxy ballots
RIA NEWS FEB 12, 2025
SEC moves to keep ESG shareholder resolutions off proxy ballots

The agency is reverting to a Trump-era policy that allowed public companies to widely exclude environmentally and socially themed resolutions.

By Emile Hallez
The war on DEI
RIA NEWS FEB 12, 2025
The war on DEI

Financial services companies are being targeted for potential legal action over their programs and initiatives on diversity, equity, and inclusion. It could be just the beginning.

By Emile Hallez