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What gets Finra’s head of enforcement out of bed in the morning?
The regulator's Bill St. Louis has been sharing his priorities.
Senators push back against SEC climate rule
More than 30 senators are supporting a measure that would overturn the regulator’s climate disclosure rule.
SEC dings Minnesota investment manager over pay-to-play conflict
'Is four grand really going to influence a politician’s thinking?' one consultant asks.
Once again, IRS waives RMDs for beneficiaries subject to the 10-year rule
The new relief on required minimum distributions for this year builds on previous IRS relief for RMDs in 2021, 2022 and 2023.
Suit challenges SEC market surveillance tool as unconstitutional
The Texas lawsuit accuses the SEC of acting without authority to create the Consolidated Audit Trail, a database that would collect virtually all US trading data.
Morgan Stanley downplays AML scrutiny for wealth clients
CEO says it's nothing new to be talking to regulators.
Global regulators want to bolster hedge fund protections
Proposals would help funds cope with market stress.
Empower settles with former advisors in poaching case
The suit involved 13 advisors, all of whom joined Empower via its acquisition of Personal Capital, who departed to establish a rival advisory firm.
OMB draws flak on DOL fiduciary rule decision
Industry groups express disappointment at the Office of Management and Budget's speedy review of the controversial rule.
Five firms hit in SEC marketing rule sweep
The regulator’s crackdown centered on the firms' use of hypothetical performance data and led to a total of $200,000 in penalties.
Morgan Stanley’s wealth unit caught in AML crossfire
The SEC and other federal regulators are reportedly probing the banking giant over its anti-money-laundering and client vetting practices.
Don’t repeat 2016 fiduciary rule mistake, NAIFA urges DOL
'Real-world experience' shows impact of fiduciary standard on Main Street investors, advisor association warns.
UBS could face higher capital rules under Swiss reforms
The bank's shares fell on the news that the government wants systemically important Swiss banks to hold significantly more capital against foreign units.
Saver’s Match provides big incentive for 401(k) contributions
A new survey builds on research showing the provision's potential reach and effect on retirement security.
West Virginia stops banking with Citi, Northern Trust, over fossil fuels
The state treasurer added four financial services firms to a list of those ineligible to provide banking services to the state because he says they 'boycott' the fossil fuels industry.
Florida broker-dealer faces $500k fine over texting violations
Finra finds years of compliance shortfalls at Dawson James Securities involving more than 10,000 text messages, including inadequate system for private placements.
Commonwealth case sends crystal-clear message
KO blow from the SEC offers pointed lesson: Don’t fight Uncle Sam
Finra caught up in email phishing scheme
A new cybersecurity alert warns member firms to be wary of fraudulent messages impersonating key members of the regulator’s leadership.
SEC seeks input on spot ether ETFs, whose future is hardly certain
The SEC could put extra scrutiny on products that benefit from ether's proof-of-stake consensus mechanism, although most ETF applicants may not get the staking benefits in their funds.
Texting employees land RIA with $6.5M SEC fine
Multiple incidents of using personal text communications were discovered.
