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Case over fishing law could hamstring the SEC and DOL
If the Chevron deference is overturned, 'the SEC will no longer be able to create new rules that are designed to apply to new things going on in the marketplace,' an attorney says.
Bill to extend small-business tax breaks faces tough path, even with bipartisan backing
A separate long-shot bill to eliminate the estate tax could help set the stage for tax reform in 2025, when individual rate cuts expire.
Finances of Social Security are a disaster in the making
With the program’s trust funds scheduled to be depleted by 2034, the threat is real, but so is the impasse in the nation’s capital.
SEC probes B. Riley deals with client
The agency has carried out interviews about the broker-dealer and its relationship with a key client who was linked to a securities fraud.
What to expect while you’re expecting the fiduciary rule
Although there will almost certainly be a legal challenge, don’t count on it going away, lawyers say. Here are some big issues to watch for.
Reg BI enforcement poised to take next step
Brokers have been wondering whether they’re complying correctly with the standard of conduct. Enforcement cases this year may shed more light than ever before.
Robinhood to pay $7.5M to settle Massachusetts charges
'We reject the premise that any part of our app, past or present, is 'gamified,'' a Robinhood spokesperson notes.
Despite SEC’s novel alignment on bitcoin ETF, it’s business as usual in regulatory politics
'This vote is not going to usher in a new era of strange alliances on votes on rulemakings or other applications to list and trade products,' says a securities lawyer. But staving off potential court intervention may shape upcoming final rules.
DOL gives go-ahead to auto enrollment in emergency accounts
The regulator issued a set of answers to frequently asked questions addressing contributions, limits and investment types.
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?
