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SEC to weigh new artificial intelligence rules for brokerages
NEWS REGULATION AND LEGISLATION JUN 13, 2023
SEC to weigh new artificial intelligence rules for brokerages

The agency said a long-contemplated plan to rein in conflicts of interest associated with artificial intelligence could be introduced as soon as October.

White House dismisses GOP tax cut plan as handout to wealthy
NEWS REGULATION AND LEGISLATION JUN 12, 2023
White House dismisses GOP tax cut plan as handout to wealthy

President Joe Biden's top economic adviser, Lael Brainard, signaled the White House is unwilling to entertain the GOP proposal, which would cut income and corporate taxes.

JPMorgan to pay $290 million to settle suit from Epstein victim
NEWS REGULATION AND LEGISLATION JUN 12, 2023
JPMorgan to pay $290 million to settle suit from Epstein victim

The firm reached an agreement to settle a proposed class action alleging that it knowingly benefited from former client Jeffrey Epstein's sex trafficking.

UBS completes Credit Suisse takeover, creating wealth management titan
NEWS WIREHOUSES JUN 12, 2023
UBS completes Credit Suisse takeover, creating wealth management titan

The closing of the deal allows UBS to move forward with the integration of its former rival, a process that's likely to involve thousands of job cuts.

UBS CEO Ermotti predicts 'bumpy' months as Credit Suisse deal closes
NEWS WIREHOUSES JUN 09, 2023
UBS CEO Ermotti predicts 'bumpy' months as Credit Suisse deal closes

UBS will see its workforce, costs and balance sheet swell next week when the Credit Suisse deal likely closes, prompting it to weigh deep cuts to staffing levels and wind down riskier assets.

Anti-ESG group targets Bank of America
INVESTING ESG JUN 08, 2023
Anti-ESG group targets Bank of America

Will Hild’s Consumers’ Research is focusing on the second-largest US bank in its latest push against sustainable investing.

Coinbase crackdown widens as states push to halt staking product
INVESTING ALTERNATIVES JUN 07, 2023
Coinbase crackdown widens as states push to halt staking product

Both federal and state officials drilled in on the firm's staking program, which offers customers a return for letting their tokens be used to facilitate blockchain transactions.

LTX launches AI-powered tool to help US bond traders
YOUR PRACTICE FINTECH JUN 06, 2023
LTX launches AI-powered tool to help US bond traders

BondGPT, which uses OpenAI technology to help power its bond analytics, will help traders find more liquid bonds at a better price.

SEC sues Coinbase for breaking securities rules
INVESTING ALTERNATIVES JUN 06, 2023
SEC sues Coinbase for breaking securities rules

Regulator’s suit comes day after the agency sued crypto platform Binance for a wider set of violations.

SEC sues crypto platform Binance for violating securities rules
INVESTING ALTERNATIVES JUN 05, 2023
SEC sues crypto platform Binance for violating securities rules

The agency has for months been probing whether Binance illegally sold digital coins as the exchange was getting off the ground in 2017.