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.
Direxion Pulls Filing for ETF That Would Bet Against Bitcoin
By Katie GreifeldThe application for the Direxion Bitcoin Strategy Bear ETF was made on Oct. 26; SEC staff requested it be withdrawn the same day.
November 01, 2021
SEC Commissioner Wants Cyber Rules for Advisors, BDsElad Roisman, a Republican, wants the SEC to write a rule clarifying when advisors and broker-dealers are to inform investors and the commission about a cybersecurity breach.
October 29, 2021
Ex-Wells Fargo Rep Arrested, Charged With Stealing $2.9MThe former wirehouse broker allegedly used client money to pay off his credit cards, gamble and buy gold.
October 28, 2021
SEC Orders Investment Firm Owner to Pay $1.2M Over Ponzi SchemeAMV Investments owner Ann M. Vick fraudulently raised about $3.2 million from almost two dozen investors, the SEC alleges.
October 28, 2021
NYLife Securities to Pay $263K Over Mutual Fund SwitchesTen clients paid unnecessary front-end sales charges for mutual funds due to the firm's supervisory failures, FINRA says.
October 28, 2021
FINRA Bars Another Broker Who Improperly Applied for COVID Disaster LoanAn ex-JPMorgan rep, meanwhile, was fined and suspended for improperly applying for the same type of loan.
October 27, 2021
PPP Loan Forgiveness Was Denied. Can You Appeal?Small-business clients unhappy with how their PPP loans have been treated may have the option of appealing the decision.
October 27, 2021
Stock Trader Charged With Securities Fraud in Twitter Pump-and-Dump SchemeThe Ohio stock promoter used the social network for his over-the-counter penny stock scam, DOJ and SEC allege in separate actions.