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UBS ordered to pay investor $532,846 for overly risky portfolio
Lawyer claims award was a 'poor decision' and should have been bigger.
BlackRock wants to slash costs of trading bitcoin
But will the SEC agree that the asset manager’s refiled application will facilitate the democratization of crypto trading?
401(k) lawsuit over ESG is a sign of the times
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.
Financial Professionals Coalition seeks to help ‘disenfranchised’ financial advisors
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.
Finra dings Hightower with $353,000 penalty over alt sales
Both GPB private placements and the LJM mutual fund were widely sold by brokerage firms prior to 2018.
Finra posts net loss of $218.1 million for 2022
The broker-dealer regulator's revenue fell as a result of a decline in the market transactions on which Finra charges fees.
Fidelity leads flurry of bitcoin ETF refilings to answer SEC questions
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.
SEC’s rejection of BlackRock bitcoin ETF unlikely to derail eventual approval
Rejection screams 'we're ready to approve,' says financial planner.
Advisors, be careful what you wish for with interest rates
'When an advisor or client stretches for yield, that’s when they can get hit,' one financial advisor notes.
Student loan court ruling is a ‘one-two punch’ for clients
Advisors react to financial challenge posed by Supreme Court's decision, combined with the lifting in October of a freeze on student loan payments
Broker-dealer employee hit by SEC legal action
A Chinese fintech company executive, inside information about Morgan Stanley deals and six-figure illicit profits.
Supreme Court rejects student-loan relief plan
The high court tossed out President Joe Biden's plan to slash the student debt of more than 40 million people.
Fidelity joins race for spot-bitcoin ETF with SEC filing
It's the latest high-profile traditional financial finance firm to file for such an exchange-traded fund, after BlackRock made a splash with its June 15 application.
How the end of affirmative action could hurt financial advice
Diversity among financial advisors is currently lacking, and the Supreme Court's ruling is unlikely to help.
Finishing jail term for Ponzi, recidivist fraudster sold another: Feds
'A leopard doesn’t change its spots,' one industry attorney said of Wilson Baston of Brooklyn, New York, who had pleaded guilty in 2008 to deceiving hundreds of investors in a Ponzi scheme.
SEC report on RIA mandatory arbitration leaves many questions about potential investor harm
The report says more than half of investment advisors force their clients to go to arbitration to settle disputes, but it doesn't put a number on RIA arbitration cases or the costs for claimants.
Finra sues smoothie-throwing broker for ducking cash reporting rules
James Iannazzo made cash transactions totaling close to $846,000 to avoid detection, the regulator alleges.
Campaign against ESG isn’t dissuading asset managers
Regulatory changes, social pressure and demand from clients are keeping fund companies focused on ESG, according to a survey.
ESG investors get set of global reporting standards
The voluntary framework published by the International Sustainability Standards Board paves the way for companies across jurisdictions to report uniform climate and sustainability information.
GOP battle plan on ESG focuses on proxies, SEC and asset managers
The list of priorities put together by the House Committee on Financial Services' ESG working group shows where a Republican administration might be headed.