According to the SEC, Ambassador Advisors generated at least $777,000 in fees by investing in 12b-1 share classes when other share classes were available for the same mutual fund.
The Menlo Park, California-based company announced a new debit card last week, complete with a spare change investing feature, after reaching a settlement with the Vermont Department of Financial Regulation over lax oversight and service outages.
Competitors, who couldn’t figure out how Morgan Stanley was bidding for block trades at such tight discounts, are now swapping 'I told you so’s.'
The tax, dubbed the Billionaire Minimum Income Tax by the White House, would hit both the income and unrealized gains of U.S. households worth more than $100 million.
The talk show host is pushing back against Wells Fargo in a fight for control over her accounts.
Seniors lose more than $3 billion annually as a result of financial scams and other forms of elder abuse, and as baby boomers continue to age, this already staggering figure is sure to rise.
The bipartisan letter asks the Government Accountability Office to examine current protections in defined-contribution plans.
The big surprise was the IRS' announcement that if an account holder dies after their required beginning date, required minimum distributions would be required for years one through nine.
The Securities and Exchange Commission wins its case against Jonathan Dax Cooke for fraudulently selling variable annuities to hundreds of federal employees.
A Finra hearing panel also ordered the Salt-Lake City broker-dealer to pay $2.3 million in restitution.
The firm's CEO said the war will prompt countries to reconsider their reliance on traditional money and payment systems.
Dempsey Lord Smith and BD4RIA were negligent in 2018 when they failed to inform clients that GPB had missed a deadline for filing financial information, according to Finra.
The state claims U.S. Data Mining Group sold $4 million in unregistered securities to Massachusetts investors.
The disclosures mandated in the SEC's proposed regulations would help connect severe climate activity to business costs rather than simply labeling them force majeure, a fund company executive said.
Securities issuers would also have to report Scope 1 and 2 emissions, or those that are directly from their operations and the energy they use, on their registration statements and periodic reports.
The vote to release the proposal shows a deep divide at the agency, and Republican Commissioner Hester Peirce warns the SEC is exceeding its authority.
The fine and restitution to customers stem from sales of two alternative investments, the LJM Preservation & Growth Fund and private placements issued by GPB Capital Holdings.
The state's former securities commissioner, Irwin is campaigning for a seat in Congress.
The Vermont Department of Financial Regulation said at least 40 customers in the state complained.
Sen. Sherrod Brown says PE has a track record of 'undermining pension and retirement programs.' The American Investment Council praises PE stewardship of insurance firms.
