The SEC's flurry of activity has drawn concern not only from Capitol Hill Republicans but also the agency’s Republican commissioners, Elad Roisman and Hester Peirce.
The regulator's proposed rule would also allow brokers to leave the industry and maintain their registration longer if they complete continuing education, a move that could benefit women who step away to have families.
The organization will reopen hearings on Aug. 2 in seven jurisdictions that had remained closed. Finra postponed in-person arbitration hearings when the pandemic began in March 2020.
GOP members of House Financial Services Committee question whether climate risk meets the materiality standard.
The effective date for the capital gains tax hike would be April 28, 2021, when the American Families plan was introduced, according to the Treasury Department’s Greenbook, a compendium of revenue proposals for fiscal 2022 that was released with the administration's $6 trillion budget proposal in May.
Last year, Finra allocated $73.8 million of fine and reserve monies to fund capital initiatives and $16.4 million to pay for investor education and firm compliance.
The measure, which would have established a special roster of arbitrators to hear broker requests to clear their records, was criticized by PIABA as being too limited to address the problem.
The bills amend the Investment Advisers Act and federal retirement law to promote sustainable investing. The document must describe the factors advisers use in making investment decisions and they must 'align with an ESG framework'
The agency likely will propose disclosure rules and has already outlined compliance shortfalls, according to experts at the InvestmentNews Global ESG Summit.
Study co-authored by Robert Jackson Jr. shows that 'wandering advisers' who leave one regulator and continue operating under another are more likely to commit misconduct.
