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SEC orders San Diego B-D to pay $800,000 over fund share class disclosures
Madison Avenue Securities didn't disclose or didn't adequately disclose conflicts associated with compensation the firm received from certain advisory client investments.
Wall Street’s lawyers attack SEC effort to crush greenwashing
Lawyers are concerned about what they consider vague demands for more disclosure.
Finra arbitrators award Mexican farmer damages against Morgan Stanley, ex-broker
The firm and the former rep were ordered to pay Carlos Ramon Tapia Sanchez $160,000 each in damages; his attorney said the broker inappropriately recommended that Sanchez invest in junk bonds.
Barred broker latest to be focus of a GWG bond complaint
Marc Korsch, who was booted from the securities industry last year, has a staggering 33 disclosure items on his BrokerCheck report.
Deutsche Bank, DWS raided over allegations of greenwashing
DWS has faced regulatory probes in the US and Germany after its former chief sustainability officer, Desiree Fixler, went public with greenwashing allegations last year.
Senate HELP Committee introduces draft retirement savings bill
The measure will provide part of the foundation for the Senate companion bill to SECURE 2.0, which the House approved in March.
Promises of student debt forgiveness put advisers in uncharted territory
The moving target of potential debt forgiveness, coupled with an extended payment moratorium, has advisers reading the political tea leaves for direction.
Creative Planning, Schwab, Fidelity fighting adviser’s collusion charges
The firms named in the adviser's complaint go to 'corrupt and malicious lengths ... to keep their illicit profit mill churning,' according to the lawsuit.
SEC Chair Gensler defends ESG proposals to skeptical ICI conference
The agency’s goal is to give investors more and better information so that they can determine whether companies and investment funds are living up to their ESG promises, the SEC chief said.
SEC presses on with anti-greenwashing proposals
The agency proposed a set of rule changes related to fund names and ESG disclosures made by advisers and investment providers.
Ameriprise unit to pay $5 million to settle SEC charges over VA sales
The firm's staff encouraged Ameriprise registered reps to offer clients the chance to swap their current variable annuity for a more expensive one.
SEC charges TradeZero America with deceiving customers
Co-founder Daniel Pipitone allegedly fibbed about allowing purchases of meme stocks.
Crypto libertarians are learning the reason for regulations
As digital assets sell off, some crypto industry leaders are realizing that government rules aren't such an evil thing after all.
Expungement reform advocates taken by surprise as Finra revises proposal
The Finra board announced that it had approved sending a reworked rule to the SEC but it provided no details on substance or timing.
Barred adviser pleads guilty to fraud involving private stock
Wisconsin-based Michael F. Shillin, who worked as a broker for nine years, has 46 disclosures on his BrokerCheck report.
Court orders Maryland company to restore $148,000 to 401(k) plan
Department of Labor investigation found employer failed to forward employees’ contributions.
Fiduciary-only advice rule would harm investors, ACLI warns
As the DOL prepares another rule related to fiduciaries, an insurance trade association says access to commission-based advisers is at stake, while an investor advocate criticizes the trade group's poll.
SEC orders BNY Mellon to pay $1.5 million for overpromising on ESG
The firm's BNY Investment Adviser subsidiary did not perform ESG quality reviews of investments in mutual funds that it touted as using such strategies.
Lead broker-dealer seller of GWG bonds reports potential trouble
In its annual audited financial statement, Emerson Equity reported that problems related to an unnamed offering potentially could harm the firm.
SEC orders First Republic to pay $1.8 million over conflicts
The agency says the RIA unit, which breached fiduciary duty over compensation from an affiliate, consented to a cease-and-desist order and a censure.
