The SEC has charged a podcast host for allegedly running a Ponzi scheme which claimed to offer low-risk, high-return promissory notes purportedly collateralized by first mortgages on homes located throughout Ohio. Matthew Motil is the host of ‘The Cash Flow King’ podcast and the regulator says that he used this...
The SEC ordered a subsidiary of Deutsche Bank to pay a $19 million penalty for not delivering to clients what it promised in its ESG mutual funds. In a Monday order, the Securities and Exchange Commission charged DWS Investment Management Americas Inc. with making misleading statements about incorporating environmental, social...
This week, one of the hallmark events centered on curbing global warming — NYC Climate Week — convened sustainability experts and evangelists from around the world in one place. The event, which coincides with the United Nations General Assembly, has become a must-attend occasion for people in the field, mixing...
The Securities and Exchange Commission said Friday that it had reached a $50,000 settlement with a small firm in Oshkosh, Wisconsin, Carl M. Hennig Inc., for violating Regulation Best Interest from June 2020 to the start of this year and for falling short in its procedures and policies concerning...
If the regulatory process had a soundtrack, it would be a ticking clock. The American electorate has been pretty much evenly divided over the last few elections, with one party or the other gaining an advantage in the House or Senate by narrow margins. The hold on the White House...
The SEC voted Wednesday to expand the scope of a rule meant to ensure investment funds’ portfolios match the strategies suggested by their names, but the changes aren’t as restrictive about the use of environmental, social and governance factors as those the agency initially proposed. The Securities and Exchange Commission...
Republican and Democratic lawmakers pressed an SEC official Tuesday to drop a mutual fund reform proposal they say would hurt ordinary investors — but they didn’t get the response they wanted. Bipartisan ire about the measure, which is designed to bolster mutual fund resiliency during times of market stress, was...
The IRS plans to hire 3,700 employees to help fuel its efforts to target large corporations and complex partnerships. Democrats’ Inflation Reduction Act set aside tens of billions of dollars to allow the IRS to intensify its enforcement of tax cheats. The Friday announcement followed agency news last week that...
An organization representing investment advisors is pushing the SEC to calibrate its regulations so that they don’t pose an outsize burden for small advisors. The Investment Adviser Association has filed a petition with the SEC asking it to amend its definition of a small advisor. Currently, the SEC deems an...
State securities regulators continue to resist Finra’s efforts to allow brokerages to conduct online supervision of branch offices. The state regulators’ organization, the North American Securities Administrators Association, has been a consistent opponent of the Financial Industry Regulatory Authority’s proposal to establish a voluntary three-year pilot program for remote inspections. The...