The settlement sends an uncomfortable message to retirement plan advisors and other fiduciaries, an observer says.
The firm was also ordered to return $8.25 million to retail customers.
According to the SEC and Finra, for years Merrill botched the reporting threshold for potential suspicious transactions.
The bureau will keep $90 million, with the rest going to consumers, Office of the Comptroller of the Currency.
The Labor Department's advice rule is likely to lead to controversy over whether a recommendation to roll funds from a 401(k) to an IRA constitutes advice.
The Alabama Securities Commission issues a cease-and-desist against two men who scammed 88 victims out of more than $22.5 million.
The parent of failed Silicon Valley Bank is chasing cash held by the regulator.
The SEC is working on proposed rules related to artificial intelligence and other technologies, and Senate Majority Leader Chuck Schumer has announced a framework for AI legislation.
The regulator alleges unauthorized trading for recommending inappropriate investments forbenefits including $50,000 of a minor child whose parent died on active duty.
House Republicans have planned six hearings in their anti-ESG blitz, along with bill markups dedicated to the topic.
Reps traded excessively in 110 customer accounts, racking up close to $4 million in commissions and trading costs.
Republican lawmakers fired off letters to financial industry giants warning their efforts to combat climate change could violate antitrust law.
The agency plans to hold a meeting next Wednesday to finalize its changes, which could result in a clash with the $5.5 trillion industry.
Lawyer claims award was a 'poor decision' and should have been bigger.
But will the SEC agree that the asset manager’s refiled application will facilitate the democratization of crypto trading?
A plaintiff alleges that ESG led to lower returns, but the case brought against American Airlines' defined-contribution plan might be more political than substantive.
Former Finra board member Stephen Kohn set up the group to help advisors who are looking for a new job, seeking to address a customer complaint on their record, or need help with a range of other issues.
Both GPB private placements and the LJM mutual fund were widely sold by brokerage firms prior to 2018.
The broker-dealer regulator's revenue fell as a result of a decline in the market transactions on which Finra charges fees.
All five of the refiled applications indicated that Coinbase will provide market surveillance for their funds, a fact that wasn't included in previous iterations.
