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Finra achieves blockbuster financial year in 2021
The broker-dealer self-regulator's net income of $218 million was $199 million higher than in 2020, thanks to significant increases in trading fees, investment gains and fines.
Finra arbitration orders D.E. Shaw to pay former manager $52 million in defamation suit
Four years after being fired for sexual misconduct, Daniel Michalow wins his defamation case against the $60 billion hedge fund.
Gensler: SEC working on bulletins to illuminate aspects of Reg BI
On the second anniversary of its going into force, the SEC chief is trying to get the most out of a rule he inherited.
UBS to pay punitive damages in $1.3 million arbitration loss over options strategy
The award contains two unusual features: $500,000 in punitive damages to the clients and a two-to-one split decision among the three-person panel.
Social Security program needs reform now
Congress continues to ignore the fact that Social Security's trust fund is expected to run out of money in 2035, which would result in a 20% cut in benefits.
Grayscale suing SEC after its Bitcoin ETF is rejected
The regulator found that the listing proposal didn’t do enough to prevent fraud and manipulation.
SEC orders UBS to pay $25 million over fraud involving YES options strategy
The agency said UBS reps didn't understand the complex product or whether buying it was in a client's best interests.
Law firm hired by Finra bats down criticism of its selection of arbitrators
The review by Lowenstein Sandler gives no credence to a Georgia judge's critique of Finra's process for selecting arbitration panelists.
Crypto tax cheats likely to get relief as US crackdown hits snag
Firms are supposed to begin tracking data such as customers’ capital gains and losses starting in January.
Why finfluencers especially resonate with women and minorities
Style often trumps substance for personal finance commentators on social media platforms, though some are blending the best of digital and traditional advice
Burr hopes to include 529-to-Roth bill in final retirement legislation
The provision was rejected as an amendment to the Senate Finance Committee's EARN Act, but it could reemerge in a final bill sent to the floor of the House and Senate.
Cetera Financial Group hacked via printing vendor
The 'external system breach' put the Social Security numbers of 2,188 of the firm's clients at risk, according to the Maine Attorney General's office.
Finra allocates $30 million of fine money to educate self-directed online investors
Part of the record penalty imposed last year on Robinhood will be used to help potential future customers protect themselves, according to Finra's annual report on fine monies.
Citigroup private banker gets $1.4 million in harassment claim
A Finra arbitration panel rules in favor of Erin Daly, who filed a federal complaint against Citigroup alleging gender discrimination.
Investors win $975,000 in Finra arbitration involving UBS YES product
Their attorney, Jeffrey Erez, said they were misled by UBS brokers who didn't understand the risky product.
Finra sets big change in motion with new option for licensing grace period
The new Maintaining Qualifications Program reconciles Finra licensing requirements with common career and family timelines.
Finra hits National Securities with $9 million penalty
The regulator sanctioned the broker-dealer for violations related to its marketing of securities it had underwritten and failings related to sales of GPB private placements.
SEC to propose new rules for online brokers’ game-like features
SEC Chair Gary Gensler has raised concerns with how features closely associated with the mobile phone apps offered by brokers can impact trading.
Another Senate committee unanimously passes retirement savings legislation
The bill would raise the RMD age from 72 to 75, increase catch-up contributions and allow retirement plan matches for student loan payments. It will be combined with another recently advanced Senate measure.
Economic uncertainty puts alternative investments front and center
Financial advisers say clients are asking about alternatives to the standard investments in stocks and bonds.
