There’s a difference in the investing world between thinking you know something and actually knowing it, with the former linked to paying higher investment fees, according to a study published Friday by the Finra Foundation. The research, based on data from the group’s 2018 and 2021 National Financial Capability studies,...
House Republicans may have shot themselves in the foot this week with the historic ouster of Speaker Kevin McCarthy but that doesn’t mean they’ll be taking their aim off the SEC. McCarthy was deposed as speaker Tuesday after eight far-right Republicans and all Democrats voted to remove the California Republican...
The federal judge who ruled that Ripple Labs Inc.’s cryptocurrency doesn’t constitute a security when sold to the general public denied the Securities and Exchange Commission’s request to appeal the determination before trial. U.S. District Judge Analisa Torres on Tuesday ruled against the regulator in a case it filed against...
At the University of Tampa, Anthony Viggiano and three classmates faced off against another school in the 2018 “Ethics Invitational.” Hosted by the CFA Institute’s local branch, the competition tested which team could best tackle dilemmas they’d face as financial professionals. Viggiano’s team won and walked off with a $1,000 prize. A few...
The SEC gave a big present to crypto ETF firms just ahead of the likely government shutdown, reportedly granting approval for a number of ethereum futures strategies that could start trading soon. First on its list appears to be Valkyrie Funds, which had filed with the regulator to add ethereum...
A fresh slate of Wall Street firms agreed to collectively pay tens of millions of dollars to U.S. regulators over their employees’ use of unmonitored communication channels on the job. The Securities and Exchange Commission said Friday that the firms, including Interactive Brokers Group Inc. and Robert W. Baird &...
The Securities and Exchange Commission is finalizing settlements with about two dozen Wall Street firms to resolve probes into lapses in record keeping, Reuters reported. The settlements are with investment advisers and broker-dealers, according to the report, which cited people familiar with the matter. It marks the latest enforcement action in...
The Financial Industry Regulatory Authority plans to extend its remote inspections program, according to a filing with the Securities and Exchange Commission. In November 2020, Finra introduced a temporary rule to allow for remote inspections of brokerages while much the industry worked from home in response to the coronavirus pandemic....
UBS Group on Wednesday will seek to convince France’s top court to overturn a reputation-damaging conviction and €1.8 billion ($1.9 billion) penalty for helping wealthy French clients stash away undeclared funds in Swiss accounts. The hearing comes nearly two years after the Paris court of appeals more than halved UBS’s...
Investment advisors are shrugging off a potential government shutdown this weekend. “We’ve been through this song and dance before,” said Noah Damsky, co-founder of Marina Wealth Advisors. “It feels like déjà vu. This is what they do every time.” Lawmakers in Washington are once again at loggerheads over the federal budget....