The Financial Industry Regulatory Authority is proposing amendments to its Rule 2210 governing communications with the public, reports ThinkAdvisor. Currently the rule prohibits projections of performance or targeted returns in member communications. The proposed...
Representing financial professionals, financial institutions and investors in investment loss, employment and disclosure matters, and in regulatory investigations nationwide.
Month: November 2023
SEC announces increase in enforcement actions during 2023
The Securities and Exchange Commission announced the results of its enforcement actions during the fiscal year 2023 in a news release last week. The SEC said it had filed a total of 784 enforcement actions through the end of September, an increase of 3 percent over...
Consumer bureau proposes tighter regulation of digital wallets and payment apps
The Consumer Financial Protection Bureau (CFPB) announced that it is proposing tighter regulation of big tech companies offering services such as digital wallets and payment apps, Reuters reports. The agency said that despite the popularity of these payment services,...
SEC Commissioner calls for revisions in climate-disclosure rule
One of the members of the Securities and Exchange Commission is calling for revisions in the SEC's proposed rule on climate disclosures, reports Reuters. Mark Uyeda made his comments at an address at the Practising Law Institute's 55th Annual Institute on Securities...
Client files lawsuit against Bank of America alleging elder financial abuse
Bank of America has been hit with a lawsuit by one of its clients in California who alleges elder financial abuse, according to a ThinkAdvisor report. 77-year-old Annie Ma claims that she lost her $690,000 in life savings in a so-called "Chinese authorities scam." ...
