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SEC names N.J. Attorney General to head enforcement
YOUR PRACTICE PRACTICE MANAGEMENT JUN 29, 2021
SEC names N.J. Attorney General to head enforcement

Before becoming New Jersey's attorney general in 2018, Gurbir Grewal served as a federal prosecutor leading a unit that investigated white-collar crime.

SEC disclosure plan sets up clash with Amazon and others
INVESTING ESG JUN 29, 2021
SEC disclosure plan sets up clash with Amazon and others

Rules under consideration by the SEC that would require corporations to disclose climate risks will lead to shareholder lawsuits, according to Wall Street.

Principal to halt sales of retail fixed annuities, consumer life insurance
RETIREMENT RETIREMENT PLANNING JUN 28, 2021
Principal to halt sales of retail fixed annuities, consumer life insurance

The insurer will also pursue sales of blocks of those assets that are already in force. It said that it will continue selling variable annuities.

Biden wants to dismantle two tax strategies used by richest 0.1%
RETIREMENT RETIREMENT PLANNING JUN 28, 2021
Biden wants to dismantle two tax strategies used by richest 0.1%

Technical provisions in the administration's tax proposals could disrupt dynasty trusts and intentionally defective grantor trusts, two ways that super wealthy people have legally avoided taxes for decades.

UBS will let two-thirds of employees adopt permanent hybrid work
YOUR PRACTICE PRACTICE MANAGEMENT JUN 28, 2021
UBS will let two-thirds of employees adopt permanent hybrid work

The bank hasn't set a date for returning to the office. Employees can start applying for hybrid work once local pandemic rules allow them to return full-time to the office.

Robinhood's IPO plans slowed by SEC review
YOUR PRACTICE FINTECH JUN 25, 2021
Robinhood's IPO plans slowed by SEC review

Robinhood's growing cryptocurrency business, which now allows customers to trade Bitcoin, Ethereum and even Dogecoin, has drawn questions from the Securities and Exchange Commission, a source says.

BlackRock ETFs see massive inflows hinting at tax avoidance
INVESTING ETFS JUN 25, 2021
BlackRock ETFs see massive inflows hinting at tax avoidance

Five exchange-traded funds took in about $13.5 billion amid the rebalancing of the FTSE Russell indexes, suggesting heartbeat trades designed to defer taxes faced by fund investors.

Citigroup joins rivals and helps wealthy clients access crypto
INVESTING ALTERNATIVES JUN 24, 2021
Citigroup joins rivals and helps wealthy clients access crypto

The bank is forming a new digital assets group inside its burgeoning wealth management unit, and will help clients invest in cryptocurrencies, stable coins and non-fungible tokens.

Latest blow to 60/40 model is exodus of mom and pop investors
INVESTING EQUITIES JUN 23, 2021
Latest blow to 60/40 model is exodus of mom and pop investors

Savers are ditching the formula that's anchored retirement plans for more than half a century, after already low interest rates hit rock bottom during the pandemic.

Morgan Stanley to require vaccinations to enter New York offices
YOUR PRACTICE PRACTICE MANAGEMENT JUN 23, 2021
Morgan Stanley to require vaccinations to enter New York offices

The firm said the goal is to help create a normal office environment, without a need for face masks and physical distancing.