SEC Swears In 2 Commissioners; FINRA Names New Governors
Kara Stein and Michael Piwowar, both former congressional staffers, are new SEC commissioners, replacing Elisse Walter and Troy Paredes.
SEC Pressured by Pols in IRS-Like Controversy: WSJ
The paper claims in an editorial that the agency under Mary Schapiro targeted firms for their political support.
Several notable compliance-related measures have been approved—or tabled—by the Securities and Exchange Commission, Financial Industry Regulatory Authority and state securities regulators over the past couple of months that should be on advisors’ and brokers’ radar.
SEC Lifts Ban on Hedge Fund Advertising
The new rule, approved by a 4-1 vote, was required by the JOBS Act. NASAA and ICI voiced their disappointment in the rule's lack of investor protections.
Stop Denying Investor Rights: End Forced Abitration Now
For too long, investors have been forced to "take it or leave it" by mandatory pre-dispute arbitration clauses. The time is now for this denial of investor rights to end, which is why NASAA supports the Arbitration Fairness Act.
Is Schwab’s Arbitration Win Really a Loss?
There's much backlash in Washington over Schwab's successful rebuttal of a FINRA challenge to its expanded mandatory arbitration clause.
Sen. Franken Urges SEC to Ban ‘Unfair’ Arbitration Agreements
Sen. Al Franken, D-Minn., told SEC Chairwoman Mary Jo White in a Tuesday letter to act now to prevent Wall Street brokerage firms from forcing investors into “unfair” arbitration agreements.
SEC Comings and Goings: Canellos, Ceresney Named Co-Heads of Enforcement
SEC Chairwoman Mary Jo White has named her former colleague Andrew Ceresney and acting enforcement director George Canellos co-directors of the enforcement division.
SEC’s Aguilar: Predispute Mandatory Arbitration Denies Investors’ Rights
“A client’s right to go to court to recover monetary damages is an important right that should be preserved and kept in the client’s toolkit,” SEC Commissioner Luis Aguilar told state securities regulators Tuesday.
White Sworn In as SEC Chief; Walter, Paredes Likely Leaving SEC Soon
Interim Chairwoman Elisse Walter will remain at the agency as a commissioner, but it doesn't look like she'll be there for long, David Tittsworth of IAA said.