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.
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.
As independent SEC-registered advisory practices grow bigger and open branches, the regulator warns of far-reaching compliance deficiencies in the branches.
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.
Regulator files emergency action to freeze assets of independent broker and advisor who allegedly stole more than $300,000 from elderly client with whom he had a joint bank account.
Interactive, the online trading firm that clears for more foreign financial firms than any broker-dealer, agrees to pay Finra, SEC and CFTC $38 million for “widespread failures” in its anti-money-laundering programs.
Wirehouse is expanding its list of separately managed accounts that waive management fees from UBS-managed accounts to 18 equity and fixed income strategies from outside asset managers.
(Bloomberg) — The U.S. Supreme Court limited the power of the Securities and Exchange Commission to recoup illegal profits from…
Adopts single payout (at top current grid rate) for all in its traditional (Bear Stearns) brokerage channel, makes more trades eligible for comp and caps fees on fund and annuities sales, effective July 1.
U.S. Securities and Exchange Commission employees will have to stay away from the agency’s offices for at least two more months as Wall Street’s main regulator continues conducting much of its work remotely during the coronavirus pandemic.
Bank-owned broker dealer agrees to $634,000 settlement Finra over failure to supervise sale of non-traditional Exchange Traded Funds meant to be held no longer than a single day.