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Robinhood loses bid to halt enforcement of Massachusetts fiduciary rule
NEWS REGULATION AND LEGISLATION MAY 28, 2021
Robinhood loses bid to halt enforcement of Massachusetts fiduciary rule

The online trading app sued to overturn the state's fiduciary rule after Massachusetts accused Robinhood of manipulating customers.

Biden's budget would raise annual spending to $6 billion
NEWS REGULATION AND LEGISLATION MAY 27, 2021
Biden's budget would raise annual spending to $6 billion

The budget will assume the increase in the top capital gains tax rate to 43.4% that Biden has proposed will be effective retroactive to late April.

Woman in NYC bird-watcher case sues Franklin Templeton over firing
YOUR PRACTICE PRACTICE MANAGEMENT MAY 27, 2021
Woman in NYC bird-watcher case sues Franklin Templeton over firing

Amy Cooper says the company falsely claimed that it conducted an investigation before firing her.

SEC chairman signals more scrutiny of crypto, SPACs
NEWS REGULATION AND LEGISLATION MAY 26, 2021
SEC chairman signals more scrutiny of crypto, SPACs

Gensler told lawmakers Wednesday that special purpose acquisition companies and digital coins pose significant policy and investor-protection questions.

Exxon activist wins historic board seats
INVESTING ESG MAY 26, 2021
Exxon activist wins historic board seats

Engine No. 1 seeks diversification in oil giant's business and a better plan to fight climate change.

JPMorgan $1B brother-sister team leaves to start own firm
NEWS INDUSTRY NEWS MAY 26, 2021
JPMorgan $1B brother-sister team leaves to start own firm

Christian Habitz and Sarah Damsgaard's firm, Invictus, has partnered with Dynasty Financial and will have offices in Chicago, Miami and Milwaukee.

Bank CEOs scolded by senators
NEWS REGULATION AND LEGISLATION MAY 26, 2021
Bank CEOs scolded by senators

Banking Committee Chairman Sherrod Brown challenged the executives 'to be as good to the American people as the nation has been to you.'

Bets against S&P 500 ETF jump to highest this year
INVESTING EQUITIES MAY 26, 2021
Bets against S&P 500 ETF jump to highest this year

With the benchmark equity gauge near its all-time high, short interest in the $357 billion ETF is rising.

Square takes aim at big banks with checking, savings accounts
YOUR PRACTICE FINTECH MAY 25, 2021
Square takes aim at big banks with checking, savings accounts

The payments processor plans to offer both types of accounts to the small businesses that use its app, according to hidden code in a recent update to its app.

Biden orders climate risk strategy for financial assets
INVESTING ESG MAY 21, 2021
Biden orders climate risk strategy for financial assets

The executive order mandates an assessment of how to reduce climate risks to financial stability; the assessment would also detail plans financial regulators have for bolstering disclosures.