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Former broker sentenced to more than 10 years in prison for fraud
'[Thomas] Brenner used the funds for his benefit, including to make large race car-related purchases, and to pay back tax debts,' according to the U.S. Attorney's Office for the Northern District of Ohio.
Out of sight but top of mind: SEC maintains ESG focus despite absence in exam priorities
'Firms should continue with rigor and diligence to operate their ESG risk and compliance programs,' a compliance expert says.
NYSE, Nasdaq volume discounts for brokers threatened by SEC proposal
The setup can result in larger firms offering customers better transaction prices than smaller ones, SEC Chair Gary Gensler said.
SEC to investment funds: Quit playing name games
For years, investors in mutual funds and ETFs have been investing in products whose actual portfolio holdings can stray dramatically from what's implied by the name of the fund.
Don’t say ‘fiduciary rule’; DOL terms next attempt a ‘retirement security’ reg
'We are trying to protect retirement savers,' says DOL assistant secretary Lisa Gomez. 'This is a new approach. Stay tuned.'
SEC targets marketing rule, advisor compensation, complex products in 2024
'What they’re seeing is a need for increased disclosures and transparency to the investors,' a compliance expert says.
Grayscale bitcoin discount narrows with conversion to ETF seen as ‘inevitable’
The prospect of Grayscale converting its bitcoin trust into an ETF is seen as more likely after the SEC declined to appeal a court ruling in Grayscale's favor.
SEC won’t appeal Grayscale court ruling, paving way for spot bitcoin ETF
The federal appeals court ruling in August was heralded by crypto advocates as a watershed moment for the industry.
House Republican demands SEC turn over ESG documents
House Oversight Committee Chairman James Comer wants to know about US involvement in crafting EU ESG regulations.
SEC orders firm to pay $1.3M for failing to disclose conflicts related to high-cost funds
'If you’re an investment advisor and you’re not putting your clients in the lowest-cost share class, then you’re running the risk of a fiduciary failure,' an expert says.
Judge lets Finra proceed with enforcement action against broker
'If Finra doesn’t have the ability to enforce its own rules and discipline its members, then chaos will reign,' says PIABA President Hugh Berkson.
SEC AI proposal would hurt retirement savers, industry group warns
Some trade associations want the SEC to withdraw the measure. 'There is nothing for the chairman to do other than throw it in the garbage,' says the head of the American Securities Association.
California gets ahead of SEC in forcing firms’ carbon disclosure
Golden State’s proposal will force corporations to make carbon emissions public.
SEC proposal would require brokers, advisors to remediate conflicts related to use of AI
SEC Chair Gary Gensler says investors deserve to be protected but a critic argues proposal shows 'hostility toward technology.'
Investment advisor numbers escalate while ideas for stronger oversight remain stuck
Should the SEC turn to a third-party organization to help it increase the number of exams?
Gensler says AI holds promise, peril for financial advice
The SEC chair calls AI 'the most transformative technology of our time,' but emphasizes the agency's focus on fraud.
SEC charges former broker with ripping off elderly, disabled clients
Joseph Michael Todd of Florida stole at least $3 million from 20 customers, according to the regulator.
SEC’s rejection of BlackRock bitcoin ETF unlikely to derail eventual approval
Rejection screams 'we're ready to approve,' says financial planner.
SEC report on RIA mandatory arbitration leaves many questions about potential investor harm
The report says more than half of investment advisors force their clients to go to arbitration to settle disputes, but it doesn't put a number on RIA arbitration cases or the costs for claimants.
How advice standards have converged 3 years into Reg BI
While the SEC is working to put teeth into Regulation Best Interest, questions remain about how it’s working in practice.