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SEC orders TIAA to pay $2.2M for violating Reg BI
Disclosure failures at the organization’s broker-dealer arm led to nearly $1 million in unnecessary costs for retail customers in IRAs.
SEC fines VanEck $1.75M over ETF finfluencer promotion
While the SEC doesn't name the influencer, Dave Portnoy, founder of the website Barstool Sports, partnered with VanEck during the fund's launch.
SEC’s Gensler cautions against overblown claims about AI
The SEC chair warned companies against 'AI washing' when they talk to investors about their use of the technology.
Ex-Oppenheimer advisor sentenced to 8 years for $50M Ponzi scheme
The disgraced advisor fleeced more than 400 investors in a fraudulent 'private equity' fund over a 13-year period.
GOP bill to kill SEC proposal on advisor AI conflicts faces obstacles
It’s more likely the GOP will make a point about their frustrations with the SEC than actually get the bill through the Democratic-controlled Senate.
SEC to add ‘dealer’ tag to hedge funds trading Treasuries
Dozens of firms may face increased scrutiny and compliance costs in regulatory overhaul.
Investor advocates call on SEC to end RIAs’ use of mandatory arbitration
'Investors are forced into an arbitration process that’s unfair – a process that too often leaves retirees ripped off by unscrupulous RIAs and then priced out of justice by forced arbitration clauses inserted by folks who are fake fiduciaries,' PIABA president says.
State regulators oppose bill to allow private markets access through advisors
This idea may result in investors paying higher fees without requisite returns, argues state regulator.
FSI presses SEC to end ‘regulation by enforcement’
FSI says regulator must start giving accused fair notice that behavior is out of compliance.
SEC approves tougher rules for blank-check deals
After surging during the pandemic, SPACs have fallen out of favor, and the agency's new rules could further reduce investor interest.
Finra finds many misleading claims about crypto assets
'This happens when there is a new frontier of investment categories,' a compliance expert says. 'A lot of folks get very excited. What that means is [compliance] policies and procedures don’t catch up with the business side.'
SEC bars ex-Morgan Stanley broker who stole from his mother
The SEC alleged that Texas broker Doug McKelvey misappropriated more than $1.7 million.
Case over fishing law could hamstring the SEC and DOL
If the Chevron deference is overturned, 'the SEC will no longer be able to create new rules that are designed to apply to new things going on in the marketplace,' an attorney says.
SEC probes B. Riley deals with client
The agency has carried out interviews about the broker-dealer and its relationship with a key client who was linked to a securities fraud.
Reg BI enforcement poised to take next step
Brokers have been wondering whether they’re complying correctly with the standard of conduct. Enforcement cases this year may shed more light than ever before.
Despite SEC’s novel alignment on bitcoin ETF, it’s business as usual in regulatory politics
'This vote is not going to usher in a new era of strange alliances on votes on rulemakings or other applications to list and trade products,' says a securities lawyer. But staving off potential court intervention may shape upcoming final rules.
JPMorgan to pay $18M for blocking client contact with SEC
Firm's tactic 'not only undermined critical investor protections and placed investors at risk, but was also illegal,' says SEC enforcement director.
Morgan Stanley to pay $249M over block trade probes
The agreement with federal prosecutors ends a years-long investigation and allows the bank to avoid criminal charges.
Broker-dealers and bitcoin ETFs: To sell or not to sell?
'Financial advisors don’t understand bitcoin,' one senior executive notes. 'It's a disaster waiting to happen.'
Spot bitcoin ETFs will be in SEC’s crosshairs
The products, which could begin trading Thursday, will be closely scrutinized by the regulator, which did not approve them willingly, a lawyer says.
