Federal Regulation
Get the latest news and insights on regulatory developments affecting financial advisors and the stock market and trading, including news about the SEC, DOL, IRS and the Financial Industry Regulatory Authority.
FINRA Orders Advisor Group, LPL, MML, UBS, Wells Fargo to Pay $9.5M Over 529 Plans
By Jeff BermanFINRA has been encouraging firms to self-report problems with 529 plan share class recommendations.
December 17, 2021
Debate: Should Crypto Exchanges Be Required to Report on Customers to the IRS?Two professors discuss the increased reporting requirements on cryptocurrency "brokers" and recipients under the new infrastructure law.
December 17, 2021
JPMorgan Bosses, Hooked on WhatsApp, Fuel $200M PenaltyTens of thousands of messages escaped surveillance, hindering investigations, the SEC said as it doled out an unusually large fine.
December 17, 2021
RBC Capital to Pay $1M for Failing to Police High-Yield Bond InvestmentsThe firm failed to review more than 100 accounts for potentially unsuitable concentrations of high-yield bonds, FINRA says.
December 16, 2021
Misreported Crypto Gains? Fix Mistakes Before It's Too LateAdvisors should be on alert and take the time to catch up now, before the IRS toughens enforcement.
December 16, 2021
Wedbush to Pay More Than $1.2M Over Unregistered Microcap Securities SalesThe firm also failed to report suspicious transactions, the SEC alleged.
December 15, 2021
SIFMA, ICI Support DOL's ESG Proposal for 401(k) Plans, With ModificationsThe American Securities Association, which represents regional financial services firms, opposes the proposal.
December 15, 2021
SEC Needs to Improve Oversight of FINRA: GAOSEC's oversight of FINRA lacks documented policies and procedures for determining which findings and corrective actions to track.