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BlackRock’s Larry Fink says war to speed shift to green energy, digital currencies
The firm's CEO said the war will prompt countries to reconsider their reliance on traditional money and payment systems.
B-Ds flubbed sales of GPB private placements: Finra
Dempsey Lord Smith and BD4RIA were negligent in 2018 when they failed to inform clients that GPB had missed a deadline for filing financial information, according to Finra.
Massachusetts slaps crypto firm with $1 million fine
The state claims U.S. Data Mining Group sold $4 million in unregistered securities to Massachusetts investors.
Advisers, experts welcome more climate-risk transparency for companies
The disclosures mandated in the SEC's proposed regulations would help connect severe climate activity to business costs rather than simply labeling them force majeure, a fund company executive said.
SEC moves to mandate Scope 3 emissions reporting
Securities issuers would also have to report Scope 1 and 2 emissions, or those that are directly from their operations and the energy they use, on their registration statements and periodic reports.
SEC proposes mandatory climate-risk disclosures for public companies
The vote to release the proposal shows a deep divide at the agency, and Republican Commissioner Hester Peirce warns the SEC is exceeding its authority.
Geneos tagged with $400,000 penalty over alternatives sales
The fine and restitution to customers stem from sales of two alternative investments, the LJM Preservation & Growth Fund and private placements issued by GPB Capital Holdings.
Irwin hopes securities regulation resonates with Western Pennsylvania voters
The state's former securities commissioner, Irwin is campaigning for a seat in Congress.
Robinhood settles with Vermont for $640,000 over outages
The Vermont Department of Financial Regulation said at least 40 customers in the state complained.
Senate Banking Chair warns about private equity ownership of insurance companies
Sen. Sherrod Brown says PE has a track record of 'undermining pension and retirement programs.' The American Investment Council praises PE stewardship of insurance firms.
SEC’s Gensler takes aim at robo-adviser investing strategies
The Securities and Exchange Commission chairman raised questions about the effect that behavioral prompts — like encouraging clients to trade more often or using algorithms to steer them into high-risk, high-fee products — might have on investing outcomes.
SEC obtains judgment against Ohio adviser who defrauded investors
Scott Allen Fries, a former Transamerica rep and adviser, took at least $458,000 from at least 10 individuals.
Finra board approves remote-inspection proposals, sends them to SEC
Finra didn't provide details about the rules, which will be made public when they're submitted to the Securities and Exchange Commission.
Suit against Vanguard focuses on big tax bills for target-date funds
Vanguard was forced to sell as much as 15% of the assets in retail target-date funds, resulting in substantial capital gains taxes for investors who held the funds in taxable accounts, the lawsuit asserts.
SEC Democratic commissioner Allison Herren Lee plans to leave Wall Street regulator
Lee will stay at the watchdog until President Joe Biden names her successor and that person is confirmed by the Senate.
SEC warns brokers to be ‘vigilant’ amid increased market volatility
The regulator said that firms should stress-test trading positions in light of 'current events and potential market movements.'
Brokerages want remote office inspections to be part of new normal
Firms say technological advances allow them to oversee reps no matter where they work. A compliance expert cautions that the best evidence of malfeasance is found on site.
Gundlach’s DoubleLine gets SEC green light to launch its first ETFs
The firm's applications related to the DoubleLine Opportunistic Bond ETF and the DoubleLine Shiller CAPE U.S. Equities ETF have been granted 'effective immediately.'
DOL warns 401(k) plan fiduciaries against offering crypto investments
The agency 'has serious concerns about the prudence' of exposing plan participants' retirement savings to investments that carry 'significant risks of fraud, theft, and loss.'
Finra seeks comments on possible changes to oversight of complex products
The regulator is assessing the risks that may arise when retail investors purchase complicated investments without the help of a financial adviser.
