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GOP bill to kill SEC proposal on advisor AI conflicts faces obstacles
It’s more likely the GOP will make a point about their frustrations with the SEC than actually get the bill through the Democratic-controlled Senate.
Sen. Tim Scott wants to open private markets to more ordinary investors
'My suspicion is that if [Scott’s bill] passes, then the number of Main Street investors who are sold an unregistered security will far exceed the number of Main Street investors who actually go looking for such a product,' an advisor says.
SEC Chair Gensler fires back at GOP critics
Leader accused of proposing regulations that are ‘sowing discord and confusion.'
Gensler stands ground on climate disclosure despite lawmaker concerns
The top Republican on the Senate Banking Committee pressed the SEC chair to scrap an agency proposal to require climate reporting by public companies.
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.
SEC returns to full strength, not yet full speed
The Senate confirmed Jaime Lizárraga, who fills the Democratic seat of departing Commissioner Allison Herren Lee, and Mark Uyeda, who replaces former Republican Commissioner Elad Roisman.
Senate Banking Chair warns about private equity ownership of insurance companies
Sen. Sherrod Brown says PE has a track record of 'undermining pension and retirement programs.' The American Investment Council praises PE stewardship of insurance firms.
Bipartisan Senate bill targets senior financial exploitation
Legislation would establish a program that provides $10 million annually to states to investigate, prosecute abuse.
Gensler defends ESG disclosures against Republican backlash
GOP senators assert that the SEC's effort to expand ESG reporting pushes a social policy agenda, while the SEC chair says agency is reacting to investors' demands for more information.
Bank CEOs scolded by senators
Banking Committee Chairman Sherrod Brown challenged the executives 'to be as good to the American people as the nation has been to you.'
GOP lawmakers warn financial regulators to back off climate-change policies
Sen. Patrick Toomey, R-Pa., the highest-ranking Republican on the Senate Banking Committee, takes aim at the Fed, SEC for 'mission creep.'
Senate Banking Committee approves Gensler nomination
The panel voted 14-10 to advance Gary Gensler’s nomination to head the Securities and Exchange Commission to the Senate floor for a confirmation vote by the full chamber.
Gensler quizzed on climate disclosure, mandatory arbitration in confirmation hearing
The focus on the climate and finance at the hearing likely was a harbinger of the priority the SEC will place on environmental, social and governance investing under Gensler. But Reg BI was ignored.
Senate Democrats urge SEC to scrap proposed boost in stock reporting threshold
Lawmakers say SEC lacks authority to lift current $100 million ceiling and the change risks reducing transparency
Senate committee approves SEC nominees Peirce, Crenshaw
The pair now head to the Senate floor for a confirmation vote
House approves funding bill with provision to kill SEC’s private markets proposal
Advocates for alternative investments oppose the provision, which is not likely to survive in the Senate
Financial services deals meet resistance from Democratic lawmakers
Schwab's acquisition of TD Ameritrade and Morgan Stanley's deal for ETrade have elicited criticism from Sen. Sherrod Brown and Rep. Maxine Waters
