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California lawmakers move ahead with major climate disclosure bills
The state is poised to go much further on emissions reporting than the Securities and Exchange Commission.
Finra uses fine proceeds of $48.1 million to help fund improvements
The money from fines, along with funds from its reserves and excess operating revenue, allowed the regulator to finance $111.4 million in projects to improve its examination and enforcement efforts.
California B-D that sold GWG bonds files for bankruptcy
Irvine-based JRL Capital Corp. reported total assets of $43,000 and total investor claims against the firm of $2.5 million.
Firms brace for SEC spotlight on electronic communications
Protecting investors from fraudulent, misleading or otherwise problematic electronic communications seems to be of the utmost importance to regulators.
Former Wells Fargo executive Tolstedt to pay $3 million SEC penalty
The settlement with the SEC follows Carrie Tolstedt's agreement in March to plead guilty to obstructing a problem of the bank's practice of opening accounts for customers without their authorization.
House bill would nix ESG funds in Thrift Savings Plan
The retirement plan for federal government workers also includes numerous Christian and 'pro-life' funds that would seemingly be affected by the legislation.
Philly broker in hot water, again, over alt sales
Austin Dutton last week lost an industry arbitration claim of $43,645 to a client related to sales of GWG bonds.
California bill would require state pension funds to divest oil, gas assets
The measure seeks divestment of an estimated $15 billion from oil and gas companies by CalPERS, CalSTRS.
Debt-limit deal faces test in Congress
Legislators have less than a week to approve the agreement before the default deadline next Monday, June 5.
3 best practices for avoiding a fiduciary breach
Given the many lawsuits filed against retirement plan sponsors in recent years for breaching their fiduciary duties, here are the steps plan committees should be taking to mitigate risk.
Finra fines Vanguard $800,000 for misleading information on money market accounts
The firm miscalculated annual yield and income for nine funds on approximately 8.5 million statements. It also failed to act promptly when customers noticed something was wrong.
Preparing for the future: How 529 plans have expanded in the past decade
Here's a list of the costs that have become qualified expenses for 529 plans in the past decade.
Gensler forcefully defends mutual fund reform to skeptical industry audience
The SEC chair drew the ire of fund officials when he suggested that the agency looks out for investors while the industry looks out for itself.
Former Morgan Stanley advisor gets 7 years for ripping off clients
Shawn Edward Good pleaded guilty to stealing $7.2 million from retirees and used the money to pay off earlier investors and to fund a lavish lifestyle.
12 key points to consider on the debt ceiling and the markets
As talks on the debt ceiling continue, the Wells Fargo Investment Institute looks at how the situation could affect Treasury securities, other fixed-income instruments and the stock market.
Could $25 billion in Social Security payments on June 2 force debt-limit deal?
Those due to receive their Social Security benefits next week are retirees aged 88 and older, along with low-income individuals with disabilities.
One-in-four chance US will hit debt ceiling X-date
The odds of passing the X-date without an increase in the debt is around 25% and rising, according to JPMorgan.
Crypto startup gets special purpose broker-dealer license with SEC
The approval allows Prometheum Ember Capital to safekeep digital asset securities on behalf of individual and institutional clients as a qualified custodian.
Finra fines 5 brokerages $185,000 for Reg BI, Form CRS violations
The actions illustrate Finra’s continuing crackdown on compliance shortcomings related to the conduct standard that was implemented in June 2020.
Survey shows inflation increases retirement savings worries
The American Council of Life Insurers included questions in the poll that it says show a DOL fiduciary rule would hinder access to retirement advice.
