Compliance July 20th, 2023 Gensler: SEC Will Continue Enforcement Against Crypto Companies Securities and Exchange Commission Chair Gary Gensler testified that cryptocurrencies are a “highly speculative asset class” and that the crypto...
Compliance July 20th, 2023 The PLANADVISER Interview: Tina Anstett, Senior ERISA Counsel, Smart A senior counsel who consults on ERISA fiduciary issues and IRS and DOL audits discusses the state of artificial intelligence...
Compliance July 17th, 2023 SEC’s Gensler Says AI Can Create Conflicts of Interest The SEC chair said that an AI program that even accounts for the interests of the adviser could present conflicts...
Compliance July 13th, 2023 Senate, House Spending Bills at Odds on SEC Adviser Proposals The House’s budget bill would block the safeguarding and climate risk proposals, whereas the Senate budget would not.
The Markets July 13th, 2023 IAA: SEC Marketing Rule Still Top Concern for Compliance Teams Investment advisories rank the marketing rule as the ‘hottest’ topic for the third year in a row, followed by cybersecurity...
Compliance July 12th, 2023 SEC Changes Liquidity Fee, Gate Structure for MMFs MMFs must be significantly more liquid in 2024 under new rule updates adopted this week.
Compliance July 7th, 2023 FINRA Expels Brokerage Firm Monmouth for Violating Reg BI Monmouth is the second firm to be expelled by FINRA for failing to supervise its representatives’ trading.
Compliance July 7th, 2023 Supreme Court Accepts Case Challenging Legitimacy of SEC’s Adjudication System The court has agreed to hear a case next session which could dramatically reduce the authority of in-house adjudication process...
Products July 6th, 2023 Investment Product and Service Launches BlackRock Debuts First Buffer ETFs; SMArtX Adds 15 Investment Strategies; Fidelity Refiles Spot Bitcoin ETF Application.
Compliance July 6th, 2023 J.P. Morgan Fined $4M for Recordkeeping and Outsourcing Failures The SEC penalty addressed recordkeeping issues including the early deletion of 47 million emails.
Compliance June 28th, 2023 House Republicans Outline ESG Policy Goals An interim report argued that the US should protect firms from foreign regulators and require more transparency on ESG issues.
Compliance June 26th, 2023 House Appropriations Bill Would Block Safeguarding and Swing Pricing Proposals, Among Others The legislation also targets the climate disclosure and market structure proposals.
Compliance June 23rd, 2023 IAA: SEC’s Pending Adviser Proposals Are Redundant, Inconsistent A letter from the industry association outlines what it calls overlap and inconsistencies between them.
Client Service June 16th, 2023 Senior Safe Act Incentivizes Reporting Financial Exploitation of Seniors Experts explained during a FINRA webinar that the act provides financial institutions immunity for reporting potential exploitation of senior citizens.
Compliance June 13th, 2023 SEC Issues Rare ‘Pre-Emptive’ Warning in Expanded Marketing Rule Risk Alert The SEC is getting out ahead of potential adviser missteps in following its new client marketing rules—but advisers should still...
Compliance June 9th, 2023 SEC Broadens Adviser Marketing Rule Compliance Exams The regulator has added three new areas of review to the adviser marketing rule that has been in effect since...
In Practice May 31st, 2023 House Passes Small Entity Update Act to Evaluate Size Cutoff for Advisories The bill would require the SEC to study and update its definition of ‘small entity,’ which could significantly impact independent...
Compliance May 30th, 2023 FINRA Fines Vanguard for Overstating Money Market Projections A ‘technical’ issue led to overstated projections of yield and income for nine money market funds for about 8.5 million...
Compliance May 26th, 2023 Gensler Defends Swing Pricing Proposal at ICI Conference Managers who asked the Fed for help during the pandemic but who oppose swing pricing should “look in the mirror,”...
Compliance May 19th, 2023 SEC’s Gensler Confirms AI is Regulatory Priority Chairman Gary Gensler said at a conference that he has directed the SEC to explore the regulatory implications of AI...