Industry News

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Elizabeth Warren presses for details on Finra's enforcement slowdown
NEWS INDUSTRY NEWS AUG 29, 2024
Elizabeth Warren presses for details on Finra's enforcement slowdown

Decline in actions appears to indicate "a deliberate deregulatory effort," the Democratic senator said in a letter.

Posing as a broker, Maryland insurance agent grabs clients' savings
NEWS LIFE INSURANCE AND ANNUITIES AUG 29, 2024
Posing as a broker, Maryland insurance agent grabs clients' savings

"Customers should use regulated industries to their advantage and hire career specialists in each area of their lives," said one industry executive.

Gen Z leans on AI and family for financial guidance
NEWS INDUSTRY NEWS AUG 29, 2024
Gen Z leans on AI and family for financial guidance

Survey research unpacks AI’s role in helping Gen Z manage their finances, plus how they prioritize spending and saving.

Advisors weigh in on Nvidia's earnings, outlook
NEWS INDUSTRY NEWS AUG 29, 2024
Advisors weigh in on Nvidia's earnings, outlook

The AI chipmaker's widely anticipated second quarter earnings are out. Now advisors need to decide what to do with them.

Bank of America, Merrill Lynch fined $3M over “deficient” supervision systems
NEWS INDUSTRY NEWS AUG 29, 2024
Bank of America, Merrill Lynch fined $3M over “deficient” supervision systems

BofA and its subsidiary failed to review roughly 700 equity trades and 125,000 options trades that were “potentially manipulative,” according to Finra.

Nvidia finds that even when the chips aren't down, things can be bad
NEWS INDUSTRY NEWS AUG 29, 2024
Nvidia finds that even when the chips aren't down, things can be bad

Earnings report that failed to meet high expectations could dampen the AI frenzy.

ICI has 'serious concerns' about SEC reporting requirements
NEWS INDUSTRY NEWS AUG 29, 2024
ICI has 'serious concerns' about SEC reporting requirements

Will changing from quarterly to monthly reporting have negative impacts?

Which is worse, accumulating more debt or not saving enough?
NEWS INDUSTRY NEWS AUG 29, 2024
Which is worse, accumulating more debt or not saving enough?

Survey reveals Americans’ top financial regrets.

Atlanta Fed chief says more data needed before rate cut
NEWS INDUSTRY NEWS AUG 29, 2024
Atlanta Fed chief says more data needed before rate cut

Raphael Bostic says the stats need to support easing policy.

Swiss asset manager boosts US presence with Miami office
NEWS INDUSTRY NEWS AUG 29, 2024
Swiss asset manager boosts US presence with Miami office

Demand from US offshore clients has prompted the move.

Cat bond favoring hedge fund says returns already weakened
NEWS INDUSTRY NEWS AUG 29, 2024
Cat bond favoring hedge fund says returns already weakened

Investors are awaiting the extent of the 2024 hurricane season.

Millennial high earners are hightailing it out of California and New York
NEWS INDUSTRY NEWS AUG 28, 2024
Millennial high earners are hightailing it out of California and New York

An analysis of tax return data shows which states are the top destinations for high-income Gen Y households.

Private equity funds gaining traction with advisors
NEWS ALTERNATIVES AUG 28, 2024
Private equity funds gaining traction with advisors

"The appetite by financial advisors for private equity funds is super high right now," says one industry executive.

SEC scraps swing pricing plan for mutual funds
NEWS INDUSTRY NEWS AUG 28, 2024
SEC scraps swing pricing plan for mutual funds

The regulator's retreat from a plan to help control liquidity issues during high-redemption periods is an apparent win for the industry.

RayJay breakaway RIA Crux joins Arete Wealth network
NEWS RIAS AUG 28, 2024
RayJay breakaway RIA Crux joins Arete Wealth network

Crux’s collaboration with the full-service broker-dealer and RIA comes as part of a broader multi-year tech platform agreement.

Equities rally sparked boost in self-directed 401(k) investors' accounts
NEWS INDUSTRY NEWS AUG 28, 2024
Equities rally sparked boost in self-directed 401(k) investors' accounts

Average balances rise for Schwab Personal Choice Retirement Account.

More than half of Gen Z, Millennial workers plan to ask for a raise
NEWS INDUSTRY NEWS AUG 28, 2024
More than half of Gen Z, Millennial workers plan to ask for a raise

Millions also expected to seek more secure job in the next 12 months.

Investors await earnings from $3T Nvidia, stocks edge higher
NEWS INDUSTRY NEWS AUG 28, 2024
Investors await earnings from $3T Nvidia, stocks edge higher

The chipmaker will release its quarterly stats after the market closes.

Goldman Sachs snaps up Citigroup veteran for natural resources team
NEWS INDUSTRY NEWS AUG 28, 2024
Goldman Sachs snaps up Citigroup veteran for natural resources team

Warren Buffett sells another $982M in BofA shares
NEWS INDUSTRY NEWS AUG 28, 2024
Warren Buffett sells another $982M in BofA shares

Billionaire investor has cut his holding by almost 13% this summer.