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Advisers want better communication with regulators on senior abuse
They also want to extend the 15-day window under state and Finra rules to hold disbursements from accounts when abuse is suspected.
SEC exam sweep shows advisers overcharging clients
In a separate exam sweep, the SEC found that robo-advisers weren't acting in clients' best interests and were misleading in their advertising.
Bitcoin futures ETF mania cools as Wall Street hits pause button
Wall Street analysts had expected as many as four Bitcoin futures ETFs to begin trading in October.
State regulators: Reg BI fails to curb conflicts of interest
Most brokerages continue to demonstrate conflicts of interest when recommending investments to retail customers, a NASAA study shows.
Head of defunct broker-dealer charged with fraud
Thomas Brenner, former CEO of First American Securities of Orrville, Ohio, is facing seven fraud charges linked to sales of private placements.
Former Wells Fargo adviser arrested for stealing $2.8 million
Kenneth Welsh of River Edge, New Jersey, who was fired in June, made at least 137 fraudulent transactions, the SEC charges.
Colorado adviser pays $1.4 million to settle with SEC
The agency charged Ann Vick with fraudulently raising $3.2 million from nearly two dozen investors for pooled investment fund.
DOL delays fiduciary rule enforcement until February
The Labor Department is giving the financial industry the additional breathing room it had sought to prepare for the new regulation.
Regulators warn climate change poses threat to financial stability
Treasury Secretary Janet Yellen led the panel of top federal regulators that issued the report on climate change, including tentative recommendations for how agencies should begin preparing to contain the risk.
Should celebrity profiles be considered investment advice?
Investing apps allow investors to trade securities and share those strategies with like-minded traders. Regulators may need to consider whether they're also providing investment advice.
Finra set to review rules on sales of complex products
The broker-dealer regulator's move comes as the SEC launches a study of the risks associated with complex exchange-traded products that could lead to rulemaking.
Bitcoin futures ETF opens with gain, explosive trading volume
About 6.4 million shares of the exchange-traded fund, worth roughly $264 million, changed hands in the first 20 minutes of trading.
SEC GameStop report backs Gensler push to toughen rules
The report says the volatile trading in meme stocks early last year warrants a close look at factors that led brokers to restrict customer trading, as well as at gamification, short-selling and payment for order flow.
The latest in financial #AdviserTech — October 2021
This month’s #AdviserTech roundup includes Franklin Templeton’s purchase of O’Shaughnessy Asset Management and its Canvas direct index platform; Morningstar’s acquisition of Moorgate Benchmarks; Betterment for Advisors’ shift from TAMP to RIA custodian competitor; and the SEC’s inquiry into when fintech-driven nudges become bona fide investment advice.
SEC set to allow Bitcoin futures ETFs
Unlike Bitcoin ETF applications that the regulator has previously blocked, the proposals by ProShares and Invesco are based on futures contracts, and the SEC isn't likely to block them from starting to trade next week.
Wall Street could get four Bitcoin futures ETFs this month
The applications the SEC will consider, for ETFs that hold Bitcoin futures, all follow a format that SEC Chair Gary Gensler has indicated could be received favorably by the regulator.
SEC freezes assets of California adviser, options firm
Ron Harrison’s clients lost money while he collected fees based on the purported gains he made by trading options, the agency charges.
Robinhood says SEC faces high legal burden to change broker-app rules
As the agency looks at whether game-like features used by the online trading platform lead to excessive trading by retail investors, Robinhood says additional regulation could be rejected by U.S. courts.
SEC will ensure Reg BI fulfills best-interest promise: Gensler
Rep. Ann Wagner, R-Mo., raised concerns about what Gensler's recent hiring of Barbara Roper means for the future of the Regulation Best Interest standard of conduct.
SEC charges California firms with misleading clients about markups
TCFG in Laguna Nigel marked up ticket charges 60% of the time, but told advisory clients that markups were imposed only 'in some limited instances,' the agency says.
