T+1 Cycle to Start May 28
Beginning in one week, broker/dealers must settle transactions by the next business day.
Tag: settlement
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.
Betterment Pays SEC $9M for Misstatements Regarding Tax Loss Harvesting
The digital advice and IRA provider agreed to pay the fines without admitting or denying wrongdoing.
SEC Adopts Settlement Cycle Rule, Proposes New Custodial Rule
The rules, adopted and proposed, respectively, by 3-2 margins, were partially informed by recent scandals.
Proposed Settlement Would Cost Juniper Networks $3 million
Juniper agreed to a proposed settlement dismissing allegations they mismanaged their sponsored retirement plan; judicial approval still required.
Compliance News
Legislative and Judicial Actions
DOL issues missing participant guidance; a plan trustee is sued for an unauthorized distribution; Washington extends certain CARES Act provisions;...
Compliance News
Legislative and Judicial Actions
SEC approves shareholder proposal, fiduciaries of Mutual of Omaha plan settle, and more.