The more than a dozen major new rules the agency has proposed or finalized will create significant disruption for investment advisors, with substantial long-term implications.
'Efforts to address the standard of care concepts established by Reg BI remain perfunctory,' the NASAA report states.
Carrie Tolstedt, the bank's former head of retail banking, pled guilty this year to obstructing the investigation of the bank's fake accounts.
Trade groups argue the SEC went too far when it rolled out rules mandating disclosures and barring firms from doing sweetheart deals with some investors.
'Crypto is on a journey from a niche asset class to a mainstream asset class,' says an advisor.
Network 1 Financial Securities did not have a written system to identify and flag excessive trading, resulting in $533,500 in commissions for the firm, regulator says.
The company filled its retirement plan menu entirely with its own funds, some of which underperformed and had high fees, a plaintiff alleges.
The latest delay came as a disappointment after Grayscale won a court ruling this week overturning the SEC's rejection of its application to convert its bitcoin trust into an ETF.
'As a mother of three young kids ... I am so pleased to see NASAA recognizing the need for some flexibility,' an advisor says.
Politicians and regulators shouldn't be unduly favoring or burdening particular investment vehicles.
The regulator alleged the firm's global markets unit had flawed underwriting processes for securities offerings.
The Commodity Futures Trading Commission alleged that two outside systems Goldman relied on to record conversations sometimes failed in 2020.
'This is further indication that NFT trading by advisors is not ready for prime time,' Ric Edelman says.
Advisors have a range of stances on cryptocurrency, even in ETF form.
The class-action complaint alleges the hack exposed personal information of 61,000 TD customers.
'We need to address the looming debt and quit kicking the can down the road,' one advisor says.
Plans now have until 2026 to add Roth accounts that will allow high earners to make catch-up contributions.
Agency announces needed SECURE 2.0 relief related to catch-up contributions made by higher-income employees.
Decision strikes blow against online brokerage Robinhood but is hailed as a 'Fenway Park Red Sox grand slam home run' by fiduciary advocate.
Some Wells Fargo Advisors clients never got promised discounts, according to the regulator.
