Three Northwestern Mutual subsidiaries will pay the highest penalty among firms that were charged with recordkeeping violations by the Securities and Exchange Commission, according to AdvisorHub. The case involves 16 firms who paid a total of over $81 million in civil...
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Month: February 2024
Lyft error prompts note of caution to firms about releasing accurate information
An error by the rideshare company Lyft that caused shares to skyrocket prompted a note of caution from Securities and Exchange Commission Chair Gary Gensler, Reuters reports. In a fourth-quarter earnings release last week, Lyft initially forecast that an important...
SEC Chair Gensler discusses agenda for the remainder of his term
Securities and Exchange Commission Chair Gary Gensler discussed his agenda for the remainder of his term in an interview published last week in AdvisorHub. Gensler was sworn in in April 2021 for a five-year term as head of the SEC, and has said he plans to stay on in...
16 firms fined over $81 million by SEC over recordkeeping failures
The Securities and Exchange Commission is fining 16 firms a total over $81 million for widespread recordkeeping failures, WealthManagement reports. Charges were brought against five broker-dealers, seven dually registered broker-dealers and investment advisers, and...
Regulators caution investors on fraud involving purported use of AI
Federal and state regulators are warning investors about a rise in cases of fraud involving the purported use of artificial intelligence and other emerging technologies. The threat was the topic of last month's edition of 'Investor Insights' published by the Financial...
