California
Get the latest news and insights on California's financial regulations, enforcement actions and litigation.
10 State Retirement and Annuity Bills to Watch
By Allison BellIssues on the table include taxation of annuity income and efforts to update sales standards.
January 13, 2022
California to Fine Employers Who Spurn CalSavers Auto-IRAEmployers without a retirement plan and more than 100 employees could be penalized $250 per employee.
December 15, 2021
Ex-Ameriprise Rep Who Defrauded Retirees Gets 14 Years in PrisonThe former broker scammed clients out of over $12 million as part of a real estate investment scheme.
December 13, 2021
7 Worst Bogus Advisors in America: 2021The head of an investment club called Amongst Friends and a dentist were among those accused of running investment scams.
November 24, 2021
2 More States Adopt Commission-Friendly Annuity Sales RulesAdvocates of the model hope to ward off the imposition of a broad fiduciary standard.
November 11, 2021
Schwab Asks Court to Dismiss Class-Action Suit Over Cash SweepsThe firm says the case should be dismissed "for lack of jurisdiction" and a "failure to state a claim on the merits."
August 31, 2021
California Supreme Court Applies Life Policy Termination Rules to Pre-2013 PoliciesThe court says the state's grace period and notice law affect policies issued before the Jan. 1, 2013, effective date.
August 20, 2021
Health Care Group to Pay $2M for Misleading ClientsHealth Plan Intermediaries Holdings left consumers with limited coverage and tens of thousands of dollars in bills, says California's insurance commissioner.