A group of banks and business groups have filed a lawsuit against the Federal Reserve over its annual bank stress tests. AdvisorHub reports. The tests, implemented following the 2008 financial crisis, are aimed at forcing banks to maintain adequate cushions for bad...
Representing financial professionals, financial institutions and investors in investment loss, employment and disclosure matters, and in regulatory investigations nationwide.
Month: January 2025
Liz Miller assumes role of Chair of CFP Board of Directors
The Certified Financial Planner Board of Standards announced that Liz Miller, CFP®, CFA® has assumed her role of Chair of its Board of Directors, Investment News reported. The board elected Miller at its July 2023 meeting to serve as 2024 Board Chair-elect, and on...
New Social Security Fairness Act to affect strategies for claiming benefits
There could be a substantial increase in the number of people filing for Social Security as the result of a new measure signed into law recently by President Biden, ThinkAdvisor reports. he Social Security Fairness Act rescinds two provisions — the Windfall...
Use of AI expected to result in Wall Street job losses of about 200,000
The utilization of artificial intelligence is expected to result in significant job losses in the financial industry in the coming years, according to Financial Advisor and Bloomberg Intelligence. With AI continuing to perform certain tasks more efficiently than human...
FINRA fines Fidelity $600,000 over lapses in supervision involving employee’s misconduct
Fidelity Brokerage Services has been hit with a fine for its lapses in supervision that enabled an employee's misconduct, ThinkAdvisor reports. The Financial Industry Regulatory Authority fined Fidelity $600,000 in connection with an employee who converted $750,000...
