SEC
Tougher SPAC Disclosure Rules Endorsed by SEC Advisory Group
A group of executives and academics that advises the U.S. Securities and Exchange Commission wants better SPAC disclosures — the latest sign that tougher rules are coming for booming blank-check companies.
SEC Chair, Investor Advocates Sharpen Criticism of ‘Gamification’ in Online Trading
The platforms’ digital tactics may create conflicts for retail traders by encouraging investors to trade more often or alter their trading strategy, Chair Gary Gensler said.
Robinhood Repurposes Dollar-Cost-Averaging Theory for Crypto
The self-directed platform began to roll out a new feature on Wednesday, but New Yorkers won’t have access to it.
SEC Fines Cetera, Cambridge and KMS Over Email Account Hacks
The firms’ failed to properly implement cybersecurity policies, which allowed hackers to gain access to thousands of customers’ personal information through broker and employee emails, the agency said.
Remote Brokers Could Reshape Wirehouse Real Estate, Management, And Compliance
Firms are likely to consider office consolidation and potentially reduce branch management roles while regulators are changing their focus to cater to a hybrid workforce, recruiters and consultants say.
SEC Approves Finra’s Deposit Requirement Rule for High-Risk Firms
But broker-dealers and brokers engaged in misconduct will often uncover ways, despite the new rule, to avoid the regulators’ grasp, a former enforcement lawyer predicted.
SEC Settles with 27 Firms Over Form CRS Lapses
The Commission said 21 investment advisors and 6 broker-dealers had failed to timely file or properly deliver Customer Relationship Summary forms as required under Regulation Best Interest.
Buoyed by $3-Mln Whistleblower Award, Ex-Merrill Duo Clears Their Record
The Brookfield, Wisconsin brokers alleged Merrill was to blame for issues with a proprietary structured note product, which also prompted the 10 customer complaints.
SEC Commissioner Peirce Warns Again Against ESG Disclosure Requirements
Asset managers, lawyers, consultants, ESG rating agencies, and even the corporate issuers of securities could push for rules that are ultimately not useful for investors, SEC Commissioner Hester Peirce said.
SEC Orders UBS to Pay $8 Million Over Brokers’ Sales of Volatility-Linked ETFs
Brokers had “flawed understanding” of the product and improperly guided clients to hold the ETFs, which are meant for short-term trading, according to a settlement announced Monday.
SEC Chairman Proposes Review of Rules Underpinning Stock Trading
(Bloomberg) — Wall Street’s top regulator is calling for a broad-based review of the rules that underpin trading in the…
