The Financial Industry Regulatory Authority says it is requesting comment on certain actions it has taken aimed at promoting capital formation. The authority made the request in Regulatory Notice 23-09, published on May 9. In the notice to members, FINRA stressed the...
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Month: May 2023
Merrill Lynch fined $1.4 million by regulators over do-not-call violations
Merrill Lynch has signed consent orders agreeing to pay fines stemming from telemarketing violations by the company, according to AdvisorHub. Under the settlements reached with the Financial Industry Regulatory Authority and state regulators in New Hampshire, Merrill...
SEC issues largest-ever whistleblower award of nearly $279 million
The Securities and Exchange Commission has announced the largest-ever award in the history of its whistleblower program. The SEC said it had awarded nearly $279 million to a whistleblower who came forward with information and assistance that led to a successful...
Trade association says proposed SEC rule would impair clients’ access to annuities
A trade association for the insured retirement industry has expressed its opposition to a proposed change to the Securities and Exchange Commission’s custody rule, reports Financial Advisor. The Insured Retirement Institute (IRI) sent a comment letter to the SEC...
SEC strengthens reporting requirements for hedge funds, private advisors
The Securities and Exchange Commission has approved rules expanding reporting requirements for private investment advisors and hedge funds, according to InvestmentNews. By a 3-2 vote, the SEC adopted amendments to the disclosure requirements in Form PF which is filed...