Displaying 229 results
State regulators say Finra expungement reform falls short
Finra's rule proposal would tighten the process for clearing customer disputes from broker records, but NASAA is not yet on board.
State regulators warn real money can be lost in fake world
Denizens of the metaverse can be ripped off by virtual investments, the North American Securities Administrators Association said in an advisory.
Beware of ‘finfluencers,’ NASAA warns
The organization of state regulators cautions about taking advice from social media financial influencers because of possible conflicts.
NASAA extends comment deadline on REIT reform proposal
State regulators grant more time for input after getting pushback from groups representing the alternatives sector.
Crypto scams must be reined in, Senate Banking Committee says
At a hearing Thursday on scams and risks in the crypto and securities markets, senators on both sides of the aisle pitched legislation to protect investors from harm.
Alts groups oppose state regulators’ REIT reform
The changes include raising the net-income and net-worth thresholds for purchases and imposing a portfolio concentration limit.
Fintech Bytes: Bento Engine, RIA in a Box and Wealthramp
Here are the rest of the week’s fintech stories.
Leading state regulator sees arbitration reform gaining momentum
A NASAA model rule gives states the ability to yank the license of a brokerage or advisory firm that dodges an arbitration award or other judgment.
Reg BI turns 2, but not everyone is celebrating
Over the years, some have become convinced Reg BI is a significant step up from brokers’ previous suitability standard. Others remain skeptical that it’s tough enough to curb broker conflicts.
Financial industry worries about Finra’s next step on complex products
Brokerage and fund trade associations caution against limiting the market for retail customers. Consumer group and state regulators say more oversight is needed to protect investors.
Get to know the new IAR continuing education requirement
The following answers address the most frequently asked questions regarding the new IAR CE requirements for 2022.
Protecting vulnerable people from financial fraud
Seniors lose more than $3 billion annually as a result of financial scams and other forms of elder abuse, and as baby boomers continue to age, this already staggering figure is sure to rise.
Irwin hopes securities regulation resonates with Western Pennsylvania voters
The state's former securities commissioner, Irwin is campaigning for a seat in Congress.
BlockFi to pay $100 million to SEC, states
The cryptocurrency platform agreed to settle allegations from the Securities and Exchange Commission and state securities regulators that it sold a crypto lending product that it hadn't registered with the SEC.
Three states implement continuing education rules for IARs
Maryland, Mississippi and Vermont are the first states to put the NASAA model rule into effect.
Regulators charge metals dealer with $67 million fraud
The SEC, NASAA and the CFTC take action to stop Safeguard Metals and its owner, Jeffrey Santulan, whose scheme allegedly targeted investors who were at or nearing retirement.
Bipartisan Senate bill targets senior financial exploitation
Legislation would establish a program that provides $10 million annually to states to investigate, prosecute abuse.
Fake crypto offerings pose biggest investor threat, regulators say
Scams involving self-directed individual retirement accounts are another area of concern, according to an annual survey by the North American Securities Administrators Association.
Political tension could permeate the SEC’s 2022 agenda
Republican commissioners have criticized SEC Chairman Gary Gensler's expansive agenda.
Combatting senior abuse gets bipartisan backing
The House Financial Services Committee approved by voice vote legislation to jump-start a state grant program. A backer is optimistic about its Senate prospects.
