RIAs could serve as a portal to private placements for their clients, says member of an SEC advisory committee.
Conservative justices suggest that people accused of fraud by the SEC have a constitutional right to go before a federal court jury.
'We all have too much to lose in reputation,' warns one CEO. 'It’s not worth it.'
Ruling could upend SEC’s 'Orwellian and terrifying' powers, amicus brief argues.
Settlements and new cases continue as law firms claim asset managers did wrong by using their own products.
Opponents say the DOL’s proposed rule overrides Reg BI by imposing fiduciary duty on brokers working with retirement savers. Backers say the measure fills in Reg BI’s gaps in investor protection.
A former state employee is challenging a state law that targets financial firms, including BlackRock and JPMorgan Chase, for their climate change policies.
'It's supervision by Zoom,' PIABA says, while Finra says the new rules reflect hybrid work arrangements while protecting investors.
Regulator alleges that the firm used customer cash to pay expenses.
'The strategy involved frequent in-and-out trades that placed the broker’s interest in generating commissions and fees ahead of the customers’ interest in making a profit,' the SEC order states.
'There seems to be a little more detail in the Finra rule about the guardrails on the use of the projections,' a compliance lawyer says.
Sheryl Garrett, founder of the Garrett Planning Network, got a shout-out from President Obama in 2015 when he introduced a Department of Labor fiduciary rule. Now she’s joining the fight to support the Biden administration’s proposal.
SEC reviewing submission to allow 'useful' projected performance.
FDIC deposit insurance fund paid out around $16B.
ECB president wants to give regional securities regulator similar powers to the US body.
About 15 million clients' details were exposed after information was left on decommissioned computers.
The Department of Labor stopped another financial industry attempt to slow the measure by declining to extend the public comment deadline of Jan. 2.
The regulator's settlement with the US unit of Canadian firm relates to sales of Canadian private placements.
But there are still several key areas of disagreement among lawmakers.
'Last fiscal year’s results demonstrate yet again the Division’s effectiveness,’ says SEC Chair Gary Gensler.
