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Bitcoin ETF line gets longer; eight issuers file with SEC
ETF issuers are betting en masse that U.S. regulators will green-light a fund tracking the largest cryptocurrency.
Cryptocurrency nears adviser tipping point as players pile in
Regulatory uncertainty and lack of access to familiar investment vehicles currently keep most advisers on the sidelines, but a study finds 44% expect to be working with cryptocurrencies within five years.
Archegos implosion could lead to family-office regulation
Assessing the murky family-office world presents challenges, such as sorting out the different types. The SEC had targeted family office oversight for review this year even before the Archegos blowup.
UBS loses $371,000 claim linked to options strategy
UBS has been hit with a rash of arbitration claims over strategies investors say damaged them, and most recently it saw a wave of investor complaints over Puerto Rico bonds and bond funds.
Why the ‘one bad broker’ rule matters
One bad broker making big bets or selling lousy or misunderstood products can damage or even ruin a firm. Are firms doing enough to keep those brokers and high-risk behaviors in check?
Ex-GPB executive gets 9-month sentence
Former chief compliance officer Michael Cohn was also fined $50,000. A former Securities and Exchange Commission examiner, he was charged in October 2019 with obstruction of justice relating to an SEC investigation of GPB.
Purshe Kaplan racks up $1.6 million settlement
Since 2017, the firm has been on the hook for $16 million in legal settlements and restitution to clients, with the lion's share stemming from one broker's sale of alternative investments to a Native American tribe in Michigan.
Goldman Sachs is getting into Bitcoin — who’s next?
Goldman Sachs enters the race to offer wealth management clients access to Bitcoin following Morgan Stanley. Which wirehouse could be next?
Goldman close to offering Bitcoin to wealth management clients
The firm plans to begin rolling out digital assets to clients in the second quarter.
Wall Street banks summoned by regulators over Hwang’s blowup
The Securities and Exchange Commission summoned the banks for hasty meetings on what triggered the forced sale of more than $20 billion of stocks linked to Hwang’s Archegos Capital Management.
Digital currencies jump as Visa pilots crypto settlement
Traditional financial companies are beginning to embrace cryptocurrencies and blockchain projects more than a decade after the creation of Bitcoin in 2009. That comes even as some remain skeptical of mainstream adoption.
Fidelity applies for Bitcoin ETF
The company's proposed exchange-traded fund would track the cryptocurrency using pricing from U.S.-based exchanges including Bitstamp, Coinbase and Gemini.
Financial advisers are steering clients away from SPACs
Special purpose acquisition companies are leveraging celebrity endorsements to drive investor demand, while financial advisers struggle to protect clients from risk.
IBD boosts reserves more than $500,000 for inverse-ETF legal costs
Calton & Associates, with 400 reps and advisers, is looking at paying restitution of close to half a million to clients who bought leveraged exchange-traded funds.
Chevron greenwashing complaint filed with FTC
Complaint is first time environmental groups have brought such claims to the Federal Trade Commission against an oil giant.
SPACs are the investment darling of the pandemic
Special purpose acquisition companies, or SPACs, have been all the rage for the past 12 months, but will the fever outlast the pandemic?
Booming SPAC market draws SEC scrutiny
The vehicles are touted for democratizing markets by allowing retail investors access to high-growth companies. But the SEC said they come with distinct risks.
Advisor Group firms boost legal reserves
Royal Alliance Associates Inc., SagePoint Financial Inc., and FSC Securities Corp., increased legal reserves by as much as three times the amount of the prior year.
It’s time to talk about Bitcoin
Advisers don’t have to join the bulls, but they better join the discussion.
PE firm Merchant buys stake in Axiom Financial Strategies
The deal shows that private equity investors are starting to move down-market to invest in smaller registered investment advisers.
