A lawyer who represents investors in disputes with brokerages says online inspections of branch offices will increase his business in a bad way. Trade groups representing brokers say easing the requirement for onsite reviews better aligns supervision rules with the hybrid work environment. Those divergent opinions arise in the wake...
The Securities and Exchange Commission accused crypto exchange Kraken of securities-law violations, less than a year after unveiling a $30 million settlement with the firm over other alleged conduct. In its latest salvo against the crypto sector, the regulator claimed Monday that Kraken commingled customer assets with its own and at times...
A brokerage and two of its registered representatives agreed to pay the SEC a little more than $1 million for violating Reg BI by churning client accounts, according to orders released Monday. The Securities and Exchange Commission charged Richard Michalski and Michael Murray, two reps for Laidla Learn more about reprints...
A Finra proposal on performance advertising aims to align its oversight of broker marketing with the SEC’s marketing rule for investment advisors — a move that would help dually registered advisors adhere to both regulations. The Financial Industry Regulatory Authority Inc. filed a proposal l Learn more about reprints and licensing...
The last time Sheryl Garrett attended a White House rollout of a proposal to raise investment advice standards for rollovers, she became one of the stars of the show. When President Barack Obama announced the Department of Labor’s proposal in 2015, Garrett was in the crowd at an aud Learn more...
The U.S. government overrode industry objections and approved a plan to saddle the biggest banks with much of the tab for refilling the nation’s bedrock deposit-insurance fund. The Federal Deposit Insurance Corp. green-lit the key parts of a proposal the regulator made in May to replenish the Learn more about reprints and licensing...
European Central Bank President Christine Lagarde proposed granting more powers to the European Union’s securities watchdog, turning it into the regional equivalent of the US Securities & Exchange Commission. Supervision of capital markets “remains largely at the national level,” Lagarde said in a speech at a conference on Friday. A...
Morgan Stanley Smith Barney agreed Thursday to pay six states $6.5 million to settle charges that it failed to protect customers’ personal information while shutting down two data centers in 2016. The problem occurred when computer devices were decommissioned and resold following the closure of Learn more about reprints and licensing...
The Financial Industry Regulatory Authority Inc. has fined Haywood Securities USA as part of a settlement agreement. Haywood Securities USA is the U.S. subsidiary of Haywood Securities Inc. a Vancouver-based financial firm offering investment banking and sales and trading services, among others. Learn more about reprints and licensing for this...
US House lawmakers overcame partisan animosity Tuesday to pass a temporary government funding bill that greatly lowers the risk of a shutdown even as it delays fights over Ukraine aid, border policies and deep cuts to federal programs. Democrats bailed out newly elected Speaker Mike Johnson, a Republican whose plan...