The enforcement division of the Securities and Exchange Commission has issued formal requests, including subpoenas, to a number of investment firms over their sustainable investment advertising practices. This escalation shows the SEC’s heightened scrutiny on environmental, social and governance funds. A significant point of concern for the SEC includes mainstream...
It’s been called the cradle of liberty, throws great parties (tea) and is the state with the nation’s third highest median income (if you include D.C.). And now? Now it’s decided to turn the screws on some of its biggest earners. Late last week Massachusetts Gov. Maura Healey ratified the fiscal...
A federal judge has rejected a case brought forth by shareholders against JPMorgan Chase CEO Jamie Dimon and the bank’s board. They alleged negligence regarding warning signs associated with the bank’s infamous former client, Jeffrey Epstein. In a ruling Wednesday, U.S. District Judge Jed Rakoff noted that the shareholders, represented...
Paris-headquartered BNP Paribas has announced that it is under scrutiny by the Securities and Exchange Commission and the Commodity Futures Trading Commission for its personnel’s noncompliant use of communication tools, violating archiving protocols. Although BNP Paribas reported better-than-expected figures for Q2, and would have beaten last year’s profit numbers without...
A recent study conducted by BlackRock, the global money manager with $9.4 trillion in assets, has revealed a concerning trend among participants in U.S. retirement plans. Over the past two years, there has been a significant increase in pessimism regarding their ability to save for retirement. Economic anxiety is...
In a move that has significant implications for tax practitioners, the Internal Revenue Service declared Monday, in a drastic shift in its longstanding policy, that it will stop making unexpected home and business visits. The IRS has traditionally used these surprise visits as a strategy to recover unpaid taxes...
Digital World Acquisition Co., a blank-check company, has found itself entangled in a web of legal trouble with the Securities and Exchange Commission over its proposed merger with media giant Trump Media and Technology Group. The SEC’s investigation revealed that DWAC had misled investors and failed to disclose crucial information...