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GOP lawmakers warn financial regulators to back off climate-change policies
Sen. Patrick Toomey, R-Pa., the highest-ranking Republican on the Senate Banking Committee, takes aim at the Fed, SEC for 'mission creep.'
SEC seeks public comment on climate risk disclosures
Acting SEC Chair Allison Herren Lee suggested the agency should consider new policies and procedures regarding ESG for investment advisers. The agency is evaluating how a disclosure framework can be flexible enough to keep up with the latest market and scientific developments.
SEC official says ESG disclosure policy must be ‘adaptive,’ ‘innovative’
The agency must be nimble in keeping up with an increasingly popular and rapidly evolving issue.
Booming SPAC market draws SEC scrutiny
The vehicles are touted for democratizing markets by allowing retail investors access to high-growth companies. But the SEC said they come with distinct risks.
Value-focused IVA Funds files to liquidate, close up shop
Faced with shrinking assets and performance challenges, the $2.5 billion boutique asset manager will shutter its two funds next month.
Senate Banking Committee approves Gensler nomination
The panel voted 14-10 to advance Gary Gensler’s nomination to head the Securities and Exchange Commission to the Senate floor for a confirmation vote by the full chamber.
Clock starts ticking on November 2022 compliance for SEC ad rule
The 430-page rule updates the agency's marketing oversight for the first time since 1961 and applies to social media communications.
Entire SEC must be involved in climate risk, ESG policy changes, says member Peirce
The GOP commission member said the agency should provide guidance before bringing enforcement cases
SEC establishes task force on ESG issues
The move is the latest effort by the agency to emphasize oversight of sustainability disclosure and investing. The commission's Republican members raise questions about the flurry of climate activity.
Insured Retirement Institute wants more worker access to plans, annuities
Annuities are an answer to one of the most vexing worries that Americans face – outliving their money in retirement, IRI leaders said. But a critic countered that the products need to come with more investor protections.
SEC to emphasize climate risk in exams, step up Reg BI reviews
The agency is 'integrating climate and ESG considerations into [its] broader regulatory framework,' Acting Chair Allison Herren Lee says.
Gensler quizzed on climate disclosure, mandatory arbitration in confirmation hearing
The focus on the climate and finance at the hearing likely was a harbinger of the priority the SEC will place on environmental, social and governance investing under Gensler. But Reg BI was ignored.
SEC isn’t dropping the hammer yet in Reg BI exams
An SEC official indicated reviews are still meant more to help firms comply with Reg BI than to punish them for violations of the rule. But it's a good idea to document recommendations.
$1.8 billion mutual fund halts redemptions over alleged fraud
The manager of the Infinity Q liquid alt fund was fired after being accused of fudging asset values. The fund could not value its assets for purposes of calculating its net asset value.
Adapting advisers’ marketing to a new era
New regulations and the changing technological and media landscape raise many vexing and interrelated questions for advisers, their firms and the investing public.
Advisers agree: It’s time to stop ignoring Bitcoin
Bitcoin's rally and an increase in institutional adoption amplify the need for advisers to educate themselves on cryptocurrencies.
SEC wants independent monitor to run GPB amid fraud charges
The regulator wants to install an industry veteran to run GPB to monitor its assets in auto dealerships and make sure investor interests are protected.
SEC empowers more staff to launch investigations
The change puts pressure on firms' compliance operations, experts say. Facilitating the ability of SEC staff to issue subpoenas and take testimony is expected to make enforcement more agile and effective.
GameStop fireworks are likely to bog down in a regulatory slog
Those who oversee the markets are not built to react quickly to disruptions within them. Theirs is a world of study and deliberation. They have to listen to a wide range of public input. and they often leave much regulatory ambiguity in place.
Whistleblowers’ big bucks come with big risks for financial advisers
The SEC has awarded more than $738 million to 134 whistleblowers since 2012. But becoming a tipster could involve sacrifices.
