There are now almost 14,000 RIAs registered with the SEC, and the number of clients they serve grew 17% in 2020, to 60.8 million
The measure in the Senate would create 15- and 50-year limits on amount of time money could remain in DAFs.
Robinhood's growing cryptocurrency business, which now allows customers to trade Bitcoin, Ethereum and even Dogecoin, has drawn questions from the Securities and Exchange Commission, a source says.
The self-regulator saw a sharp turnaround after taking a $45.9 million loss in 2019. The results were driven, in large part, by the revenue generated from increased trading activity.
Small businesses are being told to sign up for coverage. Fintech firms and established 401(k) providers see an opportunity to showcase their services as an alternative to state-run programs before what is essentially a brand-new market.
In 2016, Finra launched a targeted examination of UIT sales, discounts and rollovers across the brokerage industry, and a number of firms have incurred penalties and fines in its aftermath.
After climate rule changes, expect similar disclosure requirements on other ESG issues like biodiversity, workforce diversity and political spending.
Legislators focused on whether there was a need to improve retirement saving and sought to address whether the 401(k) system has failed Americans by disproportionately favoring affluent and white savers. Republicans also used much of their speaking time to deride the Democrat-led American Rescue Plan signed into law in March, which included bailout money for underfunded multiemployer pension plans.
The Institute for the Fiduciary Standard on Tuesday proposed a redesigned customer relationship disclosure, known as Form CRS, that provides a side-by-side comparison of advisers and brokers.
The Department of Labor's withdrawal of a Trump-era rule has added to advisers' confusion about working as independent contractors, a model that benefits them and their clients.
At a meeting at the White House Monday, regulators including Fed Chairman Jerome Powell and SEC Chairman Gary Gensler reassured the president that the financial system is doing well.
The Maine Retirement Savings Program would allow private-sector workers to contribute to a Roth IRA from their paychecks. The bill has gone to Maine Gov. Janet Mills.
Remanding the shareholder suit against Goldman to the appeals court leaves unresolved questions about the legal weight of conflict-of-interest pledges.
The justices set aside a federal appeals court ruling in a lawsuit that accuses the company of misleading shareholders by masking conflicts of interest related to mortgage-backed securities it sold. Goldman argued the case made it too easy for shareholders to press class-action fraud suits.
The state’s students will receive personal finance education before graduating from high school.
The Justice Department says the deal, which would create the world's largest insurance brokerage, is anticompetitive.
New law will require Maine treasury and giant pension fund to dump coal, oil and gas holdings by 2026.
Ramiro Jose Sugranes of UCB Financial allegedly steered profitable trades to accounts controlled by his relatives.
Two deadlines are looming this summer for investment adviser representatives working in New York state related to the new regulation, which will allow potential clients to more easily review advisers' backgrounds.
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.
