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Finra suspends financial advisor facing child sex charge
Thomas Vernor is based in Huntsville, Alabama, and started in the securities industry in 1984 at Morgan Stanley Dean Witter.
UBS could get hit with hefty fines over Credit Suisse’s dealings with Archegos
The Federal Reserve’s fine over Archegos may be as high as $300 million, while the UK’s Prudential Regulation Authority could impose a penalty of up to $128 million.
How advice standards have converged 3 years into Reg BI
While the SEC is working to put teeth into Regulation Best Interest, questions remain about how it’s working in practice.
ESG returns rebound, taking some gas out of performance debate
There are lessons in the data for politicians who are pro- or anti-ESG, but the numbers might be dismissed.
House GOP turns up heat on SEC Chair Gensler
Legislation introduced this week would restructure the agency and remove Gensler from its helm. Two subcommittees will grill agency officials on Thursday.
Finra bars advisor who focused on special needs
Andrew Komarow was featured in InvestmentNews in May 2021 for his focus on understanding special-needs financial planning.
BlackRock bitcoin ETF has crypto fans wondering about change of course at SEC
Given the three dozen others that have filed for a bitcoin ETF without success, ETF watchers are wondering if BlackRock has an inside track to gain approval.
Justice Department and SEC probe Goldman role in SVB
Regulators are looking at Goldman Sachs' role in Silicon Valley Bank's efforts to raise funds shortly before it collapsed in March.
Bill restricting ESG passes in North Carolina
The measure, which could survive the governor's veto, would still allow ESG factors that are 'pecuniary.'
Seniors take $28.3 billion hit annually from financial exploitation, AARP finds
Artificial intelligence and restrictions on some transactions by elder customers could help reduce the problem, financial industry officials say.
Finra considers increasing liquidity requirements for brokerages
The regulator is seeking public comment on a concept proposal that would require member firms to maintain sufficient cash and assets to meet obligations during times of stress.
House rep wants to keep China and other ‘adversaries’ out of 401(k)s
Legislation proposed this week would bar defined-contribution plans from making new investments in several countries it defines as 'foreign adveraries.'
SEC to weigh new artificial intelligence rules for brokerages
The agency said a long-contemplated plan to rein in conflicts of interest associated with artificial intelligence could be introduced as soon as October.
Bill allowing more types of annuities in retirement plans tops IRI’s lobbying agenda
The Insured Retirement Institute is hoping Congress has an appetite for more retirement savings legislation following the SECURE Act and SECURE 2.0.
Finra spanks Schwab with $350,000 fine over disclosures on ETNs
Schwab self-reported the issues with disclosures related to exchange-traded notes, which occurred from January 2016 to December 2020, to Finra.
White House dismisses GOP tax cut plan as handout to wealthy
President Joe Biden's top economic adviser, Lael Brainard, signaled the White House is unwilling to entertain the GOP proposal, which would cut income and corporate taxes.
DOL has its say in court on ESG challenge
The plaintiffs and defendant recently filed cross motions for summary judgment of the challenge over the Labor Department's recently implemented ESG rule for retirement plans.
House GOP tax package launches effort to pass reform legislation
The policies of most interest to financial advisors, such as expiring estate tax breaks, could come up later in the year in negotiations over a bipartisan bill.
JPMorgan to pay $290 million to settle suit from Epstein victim
The firm reached an agreement to settle a proposed class action alleging that it knowingly benefited from former client Jeffrey Epstein's sex trafficking.
SEC warns advisors about disclosures for testimonials in exam alert
The SEC wants advisors to disclose whether the person who's touting them is a client, is being compensated or has any conflicts of interest.
