The Ann Arbor, Mich.-based independent broker-dealer, which has close to 600 reps and advisers, reported $124.3 million in total revenue in 2019.
The agency is seeking more public comment on a proposal to list a Bitcoin exchange-traded fund on Cboe.
The Democratic majority barely prevailed, while SEC Commissioner Allison Herren Lee said the agency could propose a climate-risk rule by year-end. The vote came a day after a Securities and Exchange Commission deadline for public comment.
Federal Reserve officials signaled that the pace of the U.S. economic recovery is bringing forward their expectations on how quickly they will reduce policy support.
The broker-dealer is potentially facing a penalty from the Securities and Exchange Commission due to sales of high-fee mutual funds. The regulator launched its Share Class Selection Disclosure Initiative in February 2018.
An academic study posted this month on the Social Science Research Network found that about $790 million in IRA assets were in limbo in 2017, with account owners 72½ and older failing to take RMDs.
Democrats and trade groups representing investment advisers were mostly on board with the proposed mandatory climate-risk disclosures. However, Republicans and other interest groups opposed the measure.
Gov. Greg Abbott signs a pro-oil and gas bill in the state's latest fight against ESG investing.
As the two agencies release their regulatory agendas, the SEC is also proposing to revisit rules promulgated last year when the agency was headed by former chairman Jay Clayton.
Law professor Renee Jones will run the agency's division of corporation finance, making her the first Black woman to lead one of the SEC's four major divisions.
A phony cryptocurrency offering was one of Boca Raton, Florida-based Edgar Radjabli’s frauds, the agency charges.
The new class-action suits against the three employers allege fiduciary breaches. Two defendants in other cases recently reached settlements over $1 million.
Advisers remain wary of President Joe Biden's proposals to raise capital gains taxes, which face political obstacles in Congress. There’s almost no chance any Republicans will support the administration's tax proposals.
Uncertain regulation and a lack of historical data are issues that keep advisers on the sidelines when it comes to digital currencies.
It is proposing two exchange-traded funds that will have 85% of their assets in cryptocurrency-linked equities, and the remainder in trusts and funds that hold cryptocurrencies.
Wall Street’s top regulator is calling for a broad-based review of the rules that underpin trading in the U.S. equities.
The Financial Services Institute is worried about how the agency might expand Reg BI's reach. The problem is tied to setting new disclosure standards through enforcement initiative, rather than doing so through rulemaking.
The SEC's flurry of activity has drawn concern not only from Capitol Hill Republicans but also the agency’s Republican commissioners, Elad Roisman and Hester Peirce.
Under the bill, businesses in the state that have been operating for at least two years and have at least 10 employees would be required to participate. The state passed legislation in 2018 to establish a voluntary IRA system for the private sector, but it has yet to implement that program.
The lack of training for retirement committees and plan professionals is appalling, especially in the retail DC market. Many people got their job when someone walked into their office and said, 'Good luck, you’re now in charge of running our retirement plan,' and then walked out.
