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Gensler comments open floodgates for Bitcoin fund filings
The SEC chairman's nod toward '40 Act crypto funds is the only opening the ETF space needed.
Companies are increasing ESG reporting: US Chamber of Commerce
A recent survey showed most public companies are revealing information on climate change, but want mandatory ESG disclosures to be flexible.
Bill mandating SEC test for accredited investors draws criticism
Legislation by Rep. Patrick McHenry, R-N.C., would allow anyone who passes the agency's exam to purchase unregistered securities, but credentialing groups are concerned about the mechanism for becoming a sophisticated investor.
Here’s why TIAA can no longer play by its own rules
Times have changed as the giant money manager for professors puts a $97 million penalty behind it.
House committee approves bill to increase family office oversight
Legislation written by Rep. Alexandria Ocasio-Cortez, D-N.Y., would require some advisory firms that manage wealthy families' finances to register with the Securities and Exchange Commission.
SEC fines 27 firms in first-ever Form CRS actions
The agency charged 21 investment advisers and six brokerages with missing delivery or posting deadlines. The customer relationship summary outlines fees, services and potential conflicts of interest and is supposed to help clients understand business practices.
House panel to vote on increasing family office oversight
The legislation, written by Rep. Alexandria Ocasio-Cortez, D-N.Y., would require family offices with more than $750 million in AUM to register with SEC.
Finra CEO wants to extend remote branch office inspections into 2022
Temporary relief from onsite examinations, which began at the start of the pandemic, is set to expire in December.
SEC warns advisers about wrap-fee conflicts
The agency's risk alert highlights problems that it found in examinations of more than 100 advisers who served as portfolio managers or sponsors of wrap-fee programs or who advised their clients’ accounts through third-party wrap managers.
Peirce’s concerns about ESG rulemaking could split SEC
The Republican SEC commissioner's doubts provide ammunition to those who want to push back against mandatory disclosures.
SEC orders UBS to pay $8 million over sales of complex exchange-traded products
Investments pegged to market volatility remained in client accounts for up to a year when they were meant to be short-term investments.
Bipartisan bill would block digital tokens from becoming securities
Congress will likely have to provide the legal framework for the SEC to regulate cryptocurrencies more efficiently and is working quickly to shape future regulation.
All’s quiet on the Reg BI front
The SEC has been intense about ESG and wait-and-see on Reg BI. But new Enforcement Director Gurbir Grewal supported New Jersey's fiduciary rule and may put teeth in the broker advice standard.
Kestra’s $10.3M settlement is proof fund-fee disclosure remains a priority at the SEC
The Kestra settlement and other recent ones demonstrate the SEC’s concern is extending to revenue sharing.
Biden’s executive order could ease adviser moves, but limit mega-mergers
While the executive order is designed to promote competition in the economy, the Securities and Exchange Commission will likely need to get involved for it to have a direct impact on the advice sector.
Warren pushes SEC to step up crypto regulation
The Massachusetts lawmaker expressed concern that digital-asset markets lack the same investor protections as the New York Stock Exchange and Nasdaq.
Schwab’s $200 million charge suggests additional scrutiny for online brokerages
The potential action on one of the largest digital investment platforms sheds light on the increasing need for transparency among automated advice providers.
SEC advisory committee recommends diversity, ESG disclosures
Chairman Gary Gensler says agency is looking into what asset managers mean when they call funds 'sustainable.'
Increasing retail investor access to private markets gains bipartisan support
Legislation introduced by Reps. Anthony Gonzalez, R-Ohio, and Gregory Meeks, D-N.Y., would lift restrictions on closed-end funds' investments in unregistered securities.
GOP senators ask whether ESG investing hurts federal retirement savers
Sens. Patrick Toomey, R-Pa., and Ron Johnson, R-Wisc., say proxy votes by BlackRock and State Street Global Advisors promote 'left-leaning' ESG priorities over investment returns
