The new leader of state securities regulators said states have an important role to play in protecting investors from the potential dangers of digital assets. Cryptocurrency, non-fungible tokens and other assets created by blockchain technology have been praised as innovations making financial markets more dynamic but also have been the...
Republican senators blasted a range of SEC rule proposals Tuesday — from mutual fund reform to a measure targeting advisor and broker conflicts when using artificial intelligence — while the agency’s leader assured them he is listening to critics. During a Securities and Exchange Commission oversight hearing before the Senate...
The Department of Labor got a taste over the weekend of the fierce opposition it will encounter as it tries again to strengthen investment advice rules for retirement accounts. Late Friday, the agency sent a proposal for review to the Office of Management and Budget that “would amend the regulatory...
Investment advisors expressed confidence their clients won’t be among those targeted by the IRS in an initiative that cracks down on wealthy tax cheats. The IRS announced Friday that it would use funding from tax and climate legislation approved last year to increase scrutiny of high-income earners, partnerships, large corporations...
The SEC marketing rule, which runs for 430 pages, can be complicated. But the agency’s exam sweep on compliance with the rule is straightforward. The Securities and Exchange Commission is assessing how investment advisors are adhering to the regulation when advertising their firms. The measure, which allows advisors to use...
James Fayssoux Sr. is still working at 75 rather than enjoying retirement because he lost a substantial amount of money when a brokerage firm churned his portfolio. Fayssoux, a real estate lawyer in Greenville, South Carolina, may be on his way to financial recovery following a decision last week by...
Investment advisors worried about what may be in store when the SEC knocks on their door received a fairly detailed preview from the agency Wednesday. The Securities and Exchange Commission outlined in a risk alert how it selects firms to examine, the areas it focuses on in the probes and...
Brokerages are doing a better job of complying with Regulation Best Interest but they have more work to do before they get it right, state securities regulators said Tuesday. Under Reg BI, the broker standard of conduct implemented in 2020 by the Securities and Exchange Commission, brokers are prohibited from...
It was one step forward, one step back this week toward a world in which cryptocurrency investments start popping up widely in retirement accounts. ForUsAll, a firm that helps retirement plans offer cryptocurrency investments to their participants, suffered a setback Tuesday when the U.S. Court of Appeals for the District...
Bartlett Wealth Management celebrated its 125th anniversary this year. One of the firm’s core beliefs is caring for clients and developing deep, meaningful relationships with them. New advisor advertising rules that went into force last November create an avenue for Bartlett to tell its story through the investors it serves....