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ESG study shared with SEC reveals fund labels are often useless
The researchers used data-analytic tools to establish that language in many funds’ prospectuses lacked clarity .
SEC permanently bars RIA Michael Shillin over fraud
Obtains partial judgment against Wisconsin adviser; court will determine penalties later.
There’s much to look forward to in 2022
The InvestmentNews reporting team looks ahead to 2022 and sees many of these long-term trends continuing.
ESG investing is about to get a lot easier
Both the Labor Department and the SEC are working on proposals whose thrust is to encourage the use of ESG factors, an abrupt reversal of Trump administration policy.
Expect a flurry of new ESG rules
The DOL and the SEC are poised to advance several rulemakings this spring related to ESG investing.
Two B-Ds boost reserves for legal costs
National Securities Corp. and Calton & Associates Inc. reported increased expenses in light of potential legal costs.
SEC punts again on NYDIG Bitcoin ETF
The agency said it needs another 60 days to make a determination, pushing the new deadline to March 16.
DoubleLine puts ETFs on the docket for 2022
The $137 billion bond shop has filed to launch two ETFs, one of which is similar to a strategy it already subadvises for State Street.
Implementing a social strategy that won’t get you fined by the SEC
It's important for advisers to understand what they can and can't do under the agency's new marketing rules when it comes to advertising and marketing via social media and messaging apps.
Avantax settles with SEC for $16.9 million over 12b-1 fees
The company failed to reveal conflicts of interest concerning marketing fees paid by clients for mutual funds, according to the regulator. The independent broker-dealer 1st Global Advisors was acquired by Blucora in 2019.
SEC names William Birdthistle director of investment management division
William A. Birdthistle is currently a professor at Chicago-Kent College of Law. The division oversees regulatory policy for investment advisers.
Global Infrastructure Management pays $4.5 million to settle with SEC
According to the order, Global failed to offset certain portfolio company fees against management fees charged to clients, as required under its offering and governing documents.
SEC Republican commissioner Elad Roisman to step down
Roisman, who has been a commissioner since 2018, played a key role in Trump-era efforts by the SEC to rein in proxy advisory firms and to make it easier for companies to block submissions from newer stockholders.
Capital Group, Federated plant flags in ETF land
Traditional fund complexes are succumbing to the pressure to offer ETFs alongside more expensive mutual funds.
GAO recommends SEC tighten oversight of Finra
The Government Accountability Office's report analyzed 69 SEC reviews of Finra since fiscal 2018.
Gensler targets SPAC disclosures
The SEC chairman's comments were the strongest signal to date that he'll push for much tougher rules for special purpose acquisition companies.
Ritholtz, WisdomTree launch crypto index separate account
Riding the direct indexing wave, the WisdomTree Crypto Index is designed for advisers but could also offer direct access for retail investors.
SEC warns of widespread issues with robo-advice
The agency issued a risk alert and deficiency letters to almost all of the robo-advisers examined, citing shortcomings in how the companies manage portfolios and disclose conflicts. The alert could signal future enforcement actions.
SEC enforcement actions increase, but money to investors declines
The agency filed 434 new cases in fiscal 2021, while ordering $3.9 billion in penalties and disgorgement, down from $4.7 billion in fiscal 2020.
Third Bitcoin futures ETF launches
The VanEck Bitcoin Strategy ETF began trading after a multiweek wait, and days after the SEC rejected the firm's proposal for an ETF that would hold Bitcoin directly.
