SEC
Biden SEC Doubles Down on Operational Resiliency amid Catastrophes
2021 firm examination priorities add array of climate-related and disclosure issues to traditional focus on sales practices involving high-risk securities.
Gensler Says Scrutinizing Trading Apps Would Be Focus at SEC
Gary Gensler, President Joe Biden’s pick for the U.S. Securities and Exchange Commission, said ensuring retail investors are protected when using trading apps that have exploded in popularity would be a focus if the Senate confirms him to lead Wall Street’s top regulator.
Customer Privacy Issues Cost Securities America $125,000
Finra censures and fines independent broker-dealer for encouraging recruited advisors to give nonpublic data on their customers to outside vendor that prepared account opening transfer documents.
SEC Says It’s Probing Market Mania for Potential Misconduct
The U.S. Securities and Exchange Commission, facing intense pressure to respond to the recent mania in the stock market, said it’s seeking to identify potential misconduct and will scrutinize brokerages’ decisions to halt buying that triggered a retail-investor revolt.
SEC Puts Nail in Ex-Morgan Stanley Broker’s Career Coffin
Former broker Barry Connell, who served prison time for stealing $5 million from customers, has been barred from the securities industry.
Silicon Valley Wins as SEC Allows Direct IPOs to Raise Cash
Hot tech companies and other startups will soon be permitted to raise money on the New York Stock Exchange without paying big underwriting fees to Wall Street banks, a move that threatens to upend how U.S. initial public offerings have been conducted for decades.
SEC Pushes Urgent Plan That Could Delist Chinese Companies
The U.S. Securities and Exchange Commission is pushing ahead with a plan that threatens to kick Chinese companies off U.S. stock exchanges, setting up a late clash between Washington and Beijing as the Trump administration winds down.
SEC’s Clayton Plans to Step Down as Chairman at Year’s End
Jay Clayton, who has led the U.S. Securities and Exchange Commission for most of President Donald Trump’s term in office, said in a statement Monday that he will step down at the end of the year.
SEC Charges Former Wells Executives with Misleading Investors
Former CEO John Stumpf and retail banking head Carrie Tolstedt allegedly inflated cross-selling results, regulator charges in the latest fallout from Wells’ long-running fake-account scandal, regulator charges.
SEC Warns of Lax Branch Office Compliance as RIA Businesses Boom
As independent SEC-registered advisory practices grow bigger and open branches, the regulator warns of far-reaching compliance deficiencies in the branches.
Brokers Trail Investment Advisors in KYC, Sell More ‘Complex’ Products–Regulators
State regulators report notable differences between broker-dealers operating under a suitability standard and investment advisers operating under fiduciary duties as they evaluate firms’ readiness for Reg BI.
