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SEC’s climate disclosure proposal hits nerves
Sustainable investors say it should go further while opponents claim the SEC lacks authority to pass a rule.
Senate Finance Committee to take up massive retirement savings bill
The measure would raise the required minimum distribution age, increase catch-up contributions for people between 60 and 63, and enable workers to withdraw emergency funds from plans, among its many provisions.
Supreme Court rejects challenge to SEC ‘gag order’ Musk opposed
The case stems from a challenge by a former Xerox CFO, Barry Romeril, who sued for the ability to deny SEC fraud allegations after he signed a settlement with the agency in 2003.
Finra dings another IBD over sales of GPB private placements
United Planners' Financial Services was negligent in 2018 when it failed to inform clients that GPB had missed a deadline for filing financial information, according to Finra.
SEC considers whether to increase oversight of model portfolio, index, pricing service providers
The agency has released a request for public comment to assess whether they're offering investment advice rather than just information and should be regulated as advisers.
SEC returns to full strength, not yet full speed
The Senate confirmed Jaime Lizárraga, who fills the Democratic seat of departing Commissioner Allison Herren Lee, and Mark Uyeda, who replaces former Republican Commissioner Elad Roisman.
SEC takes first substantive Reg BI enforcement action
Investor advocates differ on whether the case against brokers selling risky bonds — L bonds offered by GWG Holdings — fulfills Reg BI's investor-protection promises.
Top Democrat seeks probe on crypto use in retirement accounts
Rep. Richard Neal, chairman of the House Ways and Means Committee, asked the Government Accountability Office to assess the use of cryptocurrency investments in 401(k) plans.
Senate GOP proposal offers investment tax relief to fight inflation
The bill would more than double the 0% tax bracket for long-term capital gains and dividends, but its political prospects in the Democratic-controlled Congress are cloudy.
SEC’s Goldman, BNY moves hint at more ESG investigations
The latest developments follow notices the agency released last year around ESG enforcement.
Senate committee approves comprehensive retirement savings bill
The unanimous voice vote adds to momentum for Congress to pass SECURE 2.0 by the end of the year.
Weiss Asset Management settles with SEC for $6.9 million
The Boston-based hedge fund manager was charged with violating short-sale rules in seven public offerings.
Senate committee poised to vote on retirement savings bill
The measure is likely to become part of a larger Senate counterpart to the comprehensive retirement savings bill known as SECURE 2.0 that was approved in the House earlier this year.
SEC hits Schwab robo-adviser with $187 million fine
Charles Schwab Corp. has agreed to pay $187 million to settle charges from the Securities and Exchange Commission that the discount brokerage did not disclose how its robo-adviser used large cash holdings in client portfolios to generate revenue.
As markets slide, more advisers are sending clients to I bonds
Investing in the Treasury-backed inflation hedge comes with a few challenges, but the 9.62% yield is seen as worth the effort.
Goldman faces SEC probe of ESG funds
The agency is reportedly looking into whether some of the investments for mutual funds offered by Goldman's asset management unit are in breach of ESG metrics promised in the marketing materials.
Wall Street and the SEC headed for clash on commission-free trading
SEC Chair Gary Gensler argues the U.S. equities market is littered with hidden costs and conflicts of interest.
FS Investments exec Michael Gerber joins federal retirement plan board
Gerber will help oversee the Thrift Savings Plan, a defined-contribution program for 6.2 million federal workers that is now offering ESG options.
Judge tosses class-action complaint against Schwab robo-adviser
A Northern California District Court judge dismissed a class-action lawsuit alleging Charles Schwab’s Intelligent Portfolios violated its fiduciary duty by over-investing clients in cash.
Finra suspends, fines broker who flubbed Covid relief loan application
Tameem Habib applied for the loan without telling his firm, J.P. Morgan Securities, that he had an outside business.
