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FSI seeks to reboot suit to stop DOL independent contractor rule
The final DOL rule threatens the independent status advisors 'rely on...as they build their businesses,' says FSI CEO Dale Brown.
JPMorgan to pay $18M for blocking client contact with SEC
Firm's tactic 'not only undermined critical investor protections and placed investors at risk, but was also illegal,' says SEC enforcement director.
Proposed tax deal in Congress could give economy a boost
Congressional negotiators are locked in talks over renewing expired business tax breaks and boosting the child tax credit.
Moisand helps amplify CFP Board’s voice in fight for fiduciary advice
In one of his last actions as CFP Board chairman, Daniel Moisand testified at last month’s hearings on the Department of Labor’s latest advice proposal.
It’s too soon to bet on aggressive rate cuts, says IMF executive
Inflation is still not under control so cuts may be smaller than expected.
Morgan Stanley to pay $249M over block trade probes
The agreement with federal prosecutors ends a years-long investigation and allows the bank to avoid criminal charges.
Broker-dealers and bitcoin ETFs: To sell or not to sell?
'Financial advisors don’t understand bitcoin,' one senior executive notes. 'It's a disaster waiting to happen.'
Spot bitcoin ETFs will be in SEC’s crosshairs
The products, which could begin trading Thursday, will be closely scrutinized by the regulator, which did not approve them willingly, a lawyer says.
Most Democrats support DOL advice proposal in House hearing
'We ought to require the best interests of the investor to be protected and we’ve got some loopholes to fill,' says top Democrat on the panel.
SEC OKs 11 spot bitcoin ETFs in milestone for digital assets
The exchange-traded funds will greatly increase access to the largest cryptocurrency.
Bond market has a $2T debt problem that’s fast approaching
As governments prepare to ramp up supply, will investors want to take the risk?
Advisors worry about losing independence under DOL contractor rule
'We're small business owners; we’re entrepreneurs,' advisor says. 'I don't know what that would look like if we're suddenly employees of a broker-dealer.'
Finra watching crypto assets, brokers in 2024
Finra reveals it's keeping tabs on salespeople and financial advisors who are involved in the marketing and sale of digital assets.
SEC denies bitcoin ETF approval after X account compromised
Chair Gary Gensler denounces unauthorized social media post.
Is today the day for spot bitcoin ETF approval?
The cryptocurrency has eased from a $47K high but is up 10% so far this year.
Bitcoin-ETF issuers hope for long-awaited SEC OK this week
The SEC has until Wednesday to take action on at least one of the applications for bitcoin ETFs.
Congressional deal on spending cap eases risk of shutdown
The agreement, negotiated by Senate Majority Leader Chuck Schumer and House Speaker Mike Johnson, sets the cap for the 12 annual spending bills at $1.59T.
Advisors expect record federal debt to result in higher taxes
'As an advisor, the national debt is a very concerning issue, especially with younger clients that have a longer time horizon, because the bill is eventually going to come due,' an advisor says.
Bitcoin ETF issuers clear hurdle on path to SEC approval
SEC staff members asked some exchanges and issuers seeking to list the ETFs to submit the final version of a key document as soon as Friday, sources said.
Lawyers welcome proposed crackdown on brokers lending money to clients
'Ninety-nine percent of the time, lending to customers or borrowing from them is a bad idea.'
