Finra is concerned that some reps are receiving federal financial support connected to work they’re doing outside of their brokerage jobs. Its exams are not part of a sweep; they target individual reps who received loans.
Such pardons don’t sit well with securities attorneys, who say they contradict the mission of regulators and send the wrong message to perpetrators.
Hours before President Joseph Biden was inaugurated at the U.S. Capitol, the Biden transition team released a list of more than 100 Trump regulations approved since 2017 that it intends to revisit.
A former chairman of the Commodities Futures Trading Commission, former Treasury Department official and former Goldman Sachs executive, Gensler has developed a reputation as a tough regulator who also was a successful leader on Wall Street.
“We need comprehensive capital gains reform,” incoming Senate Finance Committee Chairman Ron Wyden, D-Ore., said. “This is a kitchen-table issue.”
The brokerage said a "hyper-partisan environment" led to its decision to stop contributing to political campaigns. However, the company will continue to lobby lawmakers in Washington.
Washington trade associations that represent financial firms and advisers are wrestling with whether and how to change their political action committee policies on donations in the wake of the riot at the U.S. Capitol.
Financial professionals holding the certified financial planner designation hit an all-time high in 2020. The number of women with CFPs increased by 3.1%, to 20,633, and the number of Black and Hispanic CFPs rose to a total of 3,688, a 12.6% increase over 2019. Blacks and Hispanics still represent just a fraction of CFPs.
The twin wins give Democrats operational control of the Senate, which is split 50-50s. While Democrats claim the majority because of the tie-breaking vote of Vice President-elect Kamala Harris, they hardly have free rein to advance legislation.
Under the measure, which the Financial Industry Regulatory Authority Inc. first released in May 2019, the broker-dealer self-regulator would use numeric thresholds for regulatory disclosures to identify firms that pose a heightened risk to investors.
