The agency will address criticism that the changes make advisers’ roles in proxy voting more cumbersome.
The Great-West Life affiliate was accused of violating the federal securities laws governing the filing of Suspicious Activity Reports.
Though significant in its own right, the appellate ruling could potentially be stayed if (and when) it is appealed to the New York Court of Appeals, which is the state’s highest court.
The full title of House Resolution 2123 is the Diversity and Inclusion Data Accountability and Transparency Act; among other goals, it seeks to require regulated financial firms with more than 100 employees to disclose diversity data.
The guidance published by the Department of Labor reminds the industry that boilerplate, fine print disclaimers that investment advice is not being provided won’t cut it.
He takes the helm at the Securities and Exchange Commission during a key time of transition and reflection for the market regulator, which is engaged in multiple important projects affecting advisers’ and brokers’ practices.
The states’ embrace of the NAIC annuity transaction suitability framework comes as experts are raising broader questions about the durability of the SEC’s Regulation Best Interest, on which the insurance standards are partly based.
A new webpage brings together all the agency’s actions and information as a response to increased investor demand for climate and ESG investing.
Sources say there is a good chance Boston Mayor Marty Walsh will be confirmed by the full U.S. Senate Monday afternoon, but they are less sure about the timing of SEC Chair nominee Gary Gensler’s confirmation vote.
Many say the new regulation permitting endorsements and testimonials in adviser advertisements brings it up to current consumer standards.
Who gets to define best execution? Is T+1 or T+2 better for market stability? What even is payment for order flow? The Senate Banking Committee tackled all these questions and more at a dynamic Tuesday morning hearing.
The ongoing implementation of Regulation Best Interest gets top billing in the SEC’s recently published 2021 examination priorities list, though recent evidence suggests the regulator’s focus on share class disclosures remains a chief concern.
Democrats used Gary Gensler’s confirmation hearing to speak to issues of racial and wealth inequality exacerbated by the pandemic—which has killed more than 500,000 Americans and caused a surge in unemployment—while Republicans focused squarely on the potential of government overreach.
In his prepared remarks, Gary Gensler calls the U.S. securities markets the ‘finest in the world,’ while emphasizing the need for ‘clear rules of the road and a cop on the beat to enforce them.’
Among the more telling chapters in Gensler’s biography is his work helping to draft the Sarbanes-Oxley Act as a senior adviser to former U.S. Senator Paul Sarbanes in the wake of the Enron scandal.
The office is also calling on the SEC to establish an ESG framework.
This makes its new prohibited transaction exemption all the more important, according to attorneys with Groom Law Group.
While stakeholders wait for the announcement of President-elect Joe Biden’s pick, the U.S. Securities and Exchange will be kept on a ‘steady course’ under Elad Roisman's interim leadership.