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SEC pries into over 100 traders’, bankers’ phones in texting probe
The agency has been sending firms lists of key positions including heads of certain investment banking teams or trading desks.
Allianz unit to plead guilty, pay billions over hedge fund loss
The agreement calls for the firm to forfeit $463 million and pay $3.2 billion in restitution to victims of the fraud as well as a $2.3 billion penalty.
‘Net zero’ oil firms are selling their dirty assets to private market
Divesting can take away the option of engaging high-carbon companies to do better.
Reg BI turns 2, but not everyone is celebrating
Over the years, some have become convinced Reg BI is a significant step up from brokers’ previous suitability standard. Others remain skeptical that it’s tough enough to curb broker conflicts.
SEC effort to give Reg BI more teeth has yet to bite
It’s not clear when the agency will announce its first major enforcement actions regarding recommendations brokers make to customers, the substantive heart of the regulation.
SEC examining complex ETF products popular in market downturns
SEC Chairman Gary Gensler warns that the products “can pose risks even to sophisticated investors, and can potentially create systemwide risks by operating in unanticipated ways."
US regulators considering Plan B if Congress fails to act on crypto
CFTC Chairman Rostin Behnam says his agency would be a tough regulator for crypto market.
House GOP demands full SEC hearing
Republican lawmakers express concern over expansive SEC agenda that they say exceeds the agency's authority and jurisdiction.
Wall Street regulators consider ‘staggering’ curbs on complex ETFs
The crackdown could hit everything from leveraged and inverse vehicles to cryptocurrency-linked funds and defined-outcome strategies.
Climate disclosures should be mandatory, investors say
People trust climate data more often if companies are required to report it, a recent survey found.
SEC crypto team getting 20 more officials in bid to crack down
The additions will bring the agency's Crypto Assets and Cyber Unit to 50 people.
Fee revenue surged at the largest IBDs last year
For more than two decades, the brokerage industry has touted its plans to shift to a fee-based business model, which is less volatile than the up-and-down cycles of sales of high-commission products.
Focus on greenwashing obscures bigger problem of complacency
Too many are complacent when it comes to ESG, driven by the fact that it’s much easier to simply accept a score and move on.
Former Morgan Stanley adviser accused of Ponzi scheme in SEC suit
Shawn E. Good, from Wilmington, North Carolina, had clients send funds to his personal bank account to supposedly make low-risk investments in real-estate development projects,
SEC freezes assets of alleged $449 million Ponzi schemers
Three in Las Vegas charged in scheme involving purported personal injury settlements.
SEC ruling reignites spot US bitcoin ETF approval debate
The agency gave its blessing to the Teucrium Bitcoin Futures Fund application which was filed under the Securities Act of 1933.
Democrat Joe Manchin opposes SEC’s climate proposal
The senator expresseed concern that the proposal would unfairly burden carbon-intensive energy companies.
Court orders former investment adviser to pay $530,000 in fraud case
Massachusetts adviser Richard Duncan got two clients to invest in a scam that originated in Turkey.
SEC plans to curb bullish SPAC forecasts and add more disclosures
Blank-check companies would be required to disclose more information about their sponsors and potential conflicts of interest under the agency's new plan.
Chubb faces new kind of shareholder vote over fossil fuels
The SEC didn't approve a request from Chubb to keep the shareholder resolution off the proxy ballot for its May 19 meeting.
