Massachusetts
Get the latest news and insights on financial regulations, enforcement actions and litigation in Massachusetts.
Massachusetts Advisor, Firm to Pay $150,000 in Annuity Switching Case
By Melanie WaddellJeffrey Cutter and his firm failed to disclose significant upfront commissions and other conflicts of interest, a jury found.
June 03, 2024
Genworth Appeals LTCI Rate Ruling in MassachusettsBay State officials questioned the insurer's customer communications and premium needs analysis.
May 22, 2024
Massachusetts Risks $1B in Lost Tax Revenue as Rich FleeThe state recently enacted a 4% surcharge on income over $1 million, which generated about $1.8 billion in revenue over nine months.
January 18, 2024
Robinhood to Pay $7.5M Over 'Gamification' PracticesThe case resolves a three-year fight with the Massachusetts Securities Division; Robinhood also admitted to a data breach.
November 10, 2023
Webull Fined $500K for Lack of Compliance TeamAt times, the firm had only one compliance employee for hundreds of thousands of accounts, state regulators said.
October 23, 2023
Massachusetts Doubles Estate Tax ExemptionYet the state is still "one of the most expensive places to die," Ed Slott says.
October 02, 2023
Fidelity Fined $1.7M for Lax Approval of Options TradersFINRA and the Massachusetts Securities Division fined Fidelity for "rubber-stamping" options trading applications.
August 25, 2023
Massachusetts Fiduciary Rule Upheld by Top CourtThe ruling "is a Fenway Park Red Sox grand slam home run" for investors and state regulators, said a fiduciary expert.