Regulation

Displaying 10554 results

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3 brokers in hot water over sketchy Covid-19 loan applications

The Financial Industry Regulatory Authority Inc. said at the start of the year it was looking into registered representatives, who applied for coronavirus-relief loans, for possible violations.

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SEC approves Finra rule to rein in rogue brokerages

The rule requires firms with a history of misconduct or that employ a high number of reps with disciplinary records to deposit cash into an account controlled by the Financial Industry Regulatory Authority Inc.

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Bill mandating SEC test for accredited investors draws criticism

Legislation by Rep. Patrick McHenry, R-N.C., would allow anyone who passes the agency's exam to purchase unregistered securities, but credentialing groups are concerned about the mechanism for becoming a sophisticated investor.

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Democrats press Labor Department for update on ESG rules

In a letter to Labor Secretary Marty Walsh, Democrats asked for an update on the DOL’s rule proposals on ESG criteria. Last year, the Trump-administration DOL finalized two rules that tamped down on use of so-called nonpecuniary factors in investment selection.

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Here’s why TIAA can no longer play by its own rules

Times have changed as the giant money manager for professors puts a $97 million penalty behind it.

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House bill would simplify approval of registered index-linked annuities

A new SEC registration form tailored to the products would support innovation, the Insured Retirement Institute argues.

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House committee approves bill to increase family office oversight

Legislation written by Rep. Alexandria Ocasio-Cortez, D-N.Y., would require some advisory firms that manage wealthy families' finances to register with the Securities and Exchange Commission.

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SEC blocks Chinese IPO filings until risks are better disclosed

Gensler says he's asked agency staff to seek additional disclosures from Chinese firms before signing off on their registration statements to sell shares.

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Biden’s nominee to head EBSA reflects aggressive rulemaking agenda

Lisa Gomez's career is rooted in ERISA, and her keen understanding of the law would help the DOL as it seeks to implement new rules, lawyers said.

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Pennsylvania RIA sentenced to 63 months for fraud

SEC previously charged George Heckler with fleecing $20 million from investors in a decade-long fraud.

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457(b)s: The solution to bad K-12 403(b) plans?

Teachers are eligible for a second supplemental plan. It’s called the 457(b), and it has several key advantages over the 403(b).

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What Empower’s purchase of Pru retirement business means for advisers

Empower has distanced itself from its other competitors; the only one that matters is Fidelity, which is bigger and more profitable because of its ability to cross-sell wealth management services to participants as well as offer proprietary products.

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Congress urged to act on numerous retirement system changes

In a hearing before the Senate Finance Committee, witnesses urged lawmakers to include changes such as mandatory coverage, student loan provisions and emergency savings in whatever legislative package materializes, such as the SECURE 2.0 bills in the House and Senate.

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Robinhood under investigation by Finra ahead of IPO

Robinhood, whose IPO is slated for Thursday, disclosed in a filing that Finra is seeking registration information about its personnel, including the non-registration status of CEO Tenev and co-founder Bhatt.

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Pension funds talk green but hold billions in polluter stocks

The 10 largest public pension funds devote about 9% of their combined equity holdings to 20 high-carbon emitting companies, according to Bloomberg Intelligence.

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CFP Board proposes tougher penalties for hiding misconduct

The proposals would impose public censure for CFPs who fail to self-report ethical problems. The guidelines are the first recommendations to come from the Commission on Sanctions and Fitness, which was established earlier this year.

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Britney Spears’ struggle for independence puts a spotlight on conservatorships

The pop superstar's plea to end her 13-year conservatorship raises questions around its validity and prompts experts to rethink the whole system.

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Gensler says SEC will propose climate risk rules by year-end

The SEC chairman signals that the disclosures about the risks corporations face from climate change may appear in the mandatory filings public companies make to the agency.

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Coalition calls for retirement security task force

Key retirement industry groups urge President Biden to put in place a coordinated federal approach to the crisis.

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FBI, SEC warn public about fake brokers and advisers

In an investor alert, the agencies point out four tactics that fraudsters use to trick investors, such as spoofed websites and fake profiles on social media platforms.