Regulation And Legislation

Displaying 10561 results
Finra targets SPACs in latest exam sweep
REGULATION AND LEGISLATION OCT 11, 2021
Finra targets SPACs in latest exam sweep

Proponents say special purpose acquisition companies help ordinary investors participate in private equity markets. Regulators are concerned about conflicts and fees in the complicated public offerings.

By Mark Schoeff Jr.
SEC enforcement director stresses ‘proactive compliance’ on Reg BI
PRACTICE MANAGEMENT OCT 08, 2021
SEC enforcement director stresses ‘proactive compliance’ on Reg BI

The rule goes 'significantly beyond' suitability, and firms should give their reps the tools they need to 'identify, disclose and mitigate conflicts prohibited under Reg BI,' Gurbir Grewal said.

By Mark Schoeff Jr.
UBS sued over muni-bond snafu that cost clients
FIXED INCOME OCT 08, 2021
UBS sued over muni-bond snafu that cost clients

UBS Financial Services misreported interest paid on taxable munis, resulting in higher tax bills for clients, according to a lawsuit.

By Bruce Kelly
AT&T fends off 401(k) fee suit
RETIREMENT PLANNING OCT 08, 2021
AT&T fends off 401(k) fee suit

The company recently received summary judgment in the case filed against it. Another company, Wesco Distribution, won a motion to dismiss in a separate case, and tech firm PTC appears to have reached a settlement in another.

By Emile Hallez
Wall Street could get four Bitcoin futures ETFs this month
ALTERNATIVES OCT 08, 2021
Wall Street could get four Bitcoin futures ETFs this month

The applications the SEC will consider, for ETFs that hold Bitcoin futures, all follow a format that SEC Chair Gary Gensler has indicated could be received favorably by the regulator.

By Bloomberg
What's coming for RIAs from Washington: New regs
RETIREMENT PLANNING OCT 07, 2021
What's coming for RIAs from Washington: New regs

Tax changes are coming too, but the experts — like everyone else — await details.

By InvestmentNews
Debt ceiling brinkmanship not a concern for advisers
ALTERNATIVES OCT 07, 2021
Debt ceiling brinkmanship not a concern for advisers

The devastating consequences of a default make it unlikely to happen, advisers say. Inflation is a bigger threat.

By Mark Schoeff Jr.
SEC freezes assets of California adviser, options firm
REGULATION AND LEGISLATION OCT 06, 2021
SEC freezes assets of California adviser, options firm

Ron Harrison’s clients lost money while he collected fees based on the purported gains he made by trading options, the agency charges.

By InvestmentNews
ESG space should welcome the regulatory spotlight
ETFS OCT 06, 2021
ESG space should welcome the regulatory spotlight

Support from corporate executives and slick marketing is no match for rules and regulation when it comes to managing sustainable portfolios.

By Jeff Benjamin
Robinhood says SEC faces high legal burden to change broker-app rules
REGULATION AND LEGISLATION OCT 06, 2021
Robinhood says SEC faces high legal burden to change broker-app rules

As the agency looks at whether game-like features used by the online trading platform lead to excessive trading by retail investors, Robinhood says additional regulation could be rejected by U.S. courts.

By Bloomberg
SEC will ensure Reg BI fulfills best-interest promise: Gensler
ALTERNATIVES OCT 05, 2021
SEC will ensure Reg BI fulfills best-interest promise: Gensler

Rep. Ann Wagner, R-Mo., raised concerns about what Gensler's recent hiring of Barbara Roper means for the future of the Regulation Best Interest standard of conduct.

By Mark Schoeff Jr.
NASAA seeks comment on new rules for unpaid arbitration awards
REGULATION AND LEGISLATION OCT 05, 2021
NASAA seeks comment on new rules for unpaid arbitration awards

If the model rules were adopted, states would have more power to collect millions in fines.

By InvestmentNews
Barred adviser to fight elderly theft charges in court
LIFE INSURANCE AND ANNUITIES OCT 05, 2021
Barred adviser to fight elderly theft charges in court

Jeffrey Dampf was barred from the securities industry last week for not cooperating in Finra's investigation of allegations that he stole money from elderly clients.

By Bruce Kelly
Murder victim's son can get money from 401(k) linked to killers
RETIREMENT PLANNING OCT 05, 2021
Murder victim's son can get money from 401(k) linked to killers

The son of a man murdered by a Colombian guerrilla group had sued for access to a 401(k) account connected to the perpetrators.

By InvestmentNews
Crypto gains appeal as inflation hedge
ALTERNATIVES OCT 05, 2021
Crypto gains appeal as inflation hedge

Research shows that investors in digital currencies also see inflation as a longer-term reality.

By Jeff Benjamin
Trader who blew up IFS Securities charged with fraud
PRACTICE MANAGEMENT OCT 04, 2021
Trader who blew up IFS Securities charged with fraud

The trader, Keith Wakefield, was charged with one count of securities fraud, which carries a maximum sentence of one year in prison.

By Bruce Kelly
SEC charges California firms with misleading clients about markups
REGULATION AND LEGISLATION OCT 04, 2021
SEC charges California firms with misleading clients about markups

TCFG in Laguna Nigel marked up ticket charges 60% of the time, but told advisory clients that markups were imposed only 'in some limited instances,' the agency says.

By InvestmentNews
Bipartisan aura around retirement savings diminishes in reconciliation
RETIREMENT PLANNING OCT 01, 2021
Bipartisan aura around retirement savings diminishes in reconciliation

Republicans are upset about auto-IRA and other proposals in the $3.5 trillion budget reconciliation package. Will their ire carry over to SECURE 2.0?

By Mark Schoeff Jr.
LPL to pay $4.8 million over anti-money laundering charges
INDEPENDENT BROKER DEALERS OCT 01, 2021
LPL to pay $4.8 million over anti-money laundering charges

Last year, the SEC charged the unregistered adviser at the heart of the matter with defrauding a town in Puerto Rico and misappropriating $7.1 million.

By Bruce Kelly
Lawsuit over AutoZone's 401(k) targets new defendant: Northern Trust
RETIREMENT PLANNING OCT 01, 2021
Lawsuit over AutoZone's 401(k) targets new defendant: Northern Trust

In other cases, claims have been dismissed against several plan sponsors, including Prudential and Eversource Energy.

By Emile Hallez