Displaying 10197 results
Offshore loophole helps Americans evade taxes, Senate report says
Setting up shell companies abroad and registering them with the IRS as offshore financial institutions lets Americans sidestep FATCA, according to the report.
‘ESG integration’ a sticking point in SEC proposals
In comment letters, fund companies and industry groups ask for more clarity from the regulator.
Legislation would help senior investors obtain legal help
Bills in both the House and Senate would establish an SEC grant program to support investor advocacy clinics at law schools.
David Lerner’s latest proprietary fund snag
The brokerage firm's in-house energy fund, Energy 11 L.P., reports $45 million in 'unpaid distributions' to investors.
John Hancock settles with NY state after long-term care insurance probe
The insurer will pay almost $21.6 million to consumers and their beneficiaries, along with $2.2 million to the New York State Medicaid program and a $2.5 million penalty to New York state.
BlackRock says SEC proposal on ESG disclosures will backfire
The asset manager said requiring new disclosures for funds that just consider ESG criteria among many other factors could muddle the situation.
New regulations for the new reality
Finra has proposed a pilot program for firms that want to continue remote inspections, in line with the seemingly permanent use of remote work.
Finra taps executive for board chair
Eric Noll, the CEO of Context Capital Partners, first joined the Finra board in August 2020.
Massachusetts securities chief goes after single-stock ETFs
William Galvin announced a 'sweep' of firms offering the new ETFs, which he compared to gambling at a casino.
CFP Board imposes interim suspension on barred rep
Pending investigation, Massachusetts adviser Filippo Mastrocola can’t use CFP certification mark.
Barred New Jersey broker charged in $1 million phony loan scheme
Criminal and civil fraud charges were filed against Anthony Mastroianni Jr., who sold fake promissory notes to older investors.
Massachusetts slaps MassMutual unit with $250,000 fine
Regulator says rep defrauded clients by saying variable annuities were commission free.
Wall Street banks’ record fines reflect regulators’ frustrations over unmonitored messaging
SEC, CFTC worried that messages were being completely lost and would ultimately make it harder to look for wrongdoing.
ESG funds being probed by SEC over ceding votes on social issues
The agency is asking companies offering ESG funds whether they lend out shares, which could impact their ability to cast ballots in corporate elections.
Blackstone’s tax-free hedge fund pitch draws scrutiny
Senate Finance Committee Ron Wyden has requested information about private placement life insurance, which can be used to shelter hedge funds and other products from taxes.
Advisers prepare clients for audits as stronger IRS enforcement looms
The Inflation Reduction Act will boost the agency's funding by $80 billion over 10 years to strengthen its enforcement and compliance efforts.
Climate bill would fuel sustainable investing
The Inflation Reduction Act provides certainty for sustainable investors, but compromises mean fossil fuel expansion.
Wealthy clients mostly avoid new taxes as spending bill nears finish line
Legislation that last year contained a litany of taxes on high earners has been whittled down to a bill with a few corporate tax provisions.
Beware of ‘finfluencers,’ NASAA warns
The organization of state regulators cautions about taking advice from social media financial influencers because of possible conflicts.
Investors win churning case against Wells Fargo in Finra arbitration
Wells and a former broker must pay $731,587. The claimants alleged investments were made 'with the sole purpose of generating additional commission or fees" for the broker.
