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The Securities and Exchange Commission has adopted rule amendments aimed at preventing misleading or deceptive names of investment funds, AdvisorHub reports. The changes were made to the "Names Rule" portion of the Investment Company Act of 1940. The Names Rule...
The Securities and Exchange Commission has charged YieldStreet Inc. and its registered investment adviser subsidiary with misleading investors, Reuters reports. The SEC said the New York-based company, which includes YieldStreet Management LLC, had failed to disclose...
Securities and Exchange Commission Chair Gary Gensler has provided new details about the commission's use of artificial intelligence, according to a report by CoinTelegraph. Gensler addressed the topic in his testimony on Sept. 12 before the U.S. Senate Committee on...
A federal judge has approved a settlement in which Wells Fargo will pay $1 billion to the plaintiffs in a class-action lawsuit, AdvisorHub reports. Under the accord, authorized last week by US District Judge Jennifer L. Rochon, Wells Fargo agreed to compensate...
The Financial Industry Regulatory Authority is still facing some opposition over its efforts to allow remote supervision of registered representatives, InvestmentNews reports. Despite several revisions to the proposal, the North American Securities Administrators...
The Securities and Exchange Commission announced last week that it has updated its list of firms that are using misleading or inaccurate information to solicit primarily non-US investors. The SEC said it is adding 29 soliciting entities, three impersonators of genuine...
The North American Securities Administrators Association has issued a report examining how firms are complying with Regulation Best Interest, according to WealthManagement. The analysis was conducted by NASAA’s Broker-Dealer Section Committee as part of the...
The Securities and Exchange Commission is facing a lawsuit over its recently adopted rules to increase the regulation of private fund advisers, reports Reuters. Six private equity and hedge fund trade groups filed the suit in the United States Court of Appeals for the...
A New Jersey-based broker-dealer has been penalized by the Financial Industry Regulatory Authority over violations involving Regulation Best Interest, reports ThinkAdvisor. According to a letter of acceptance, waiver and consent, FINRA ordered Network 1 Financial...
The Certified Financial Planner Board of Standards is requesting public comment on proposed revisions to its sanction guidelines and fitness standards, Financial Planning reports. The proposals follow a comprehensive review by the Commission on Sanctions and Fitness,...
