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...
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Financial News
SEC charges YieldStreet and its subsidiary for misleading investors
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...
SEC using AI as part of surveillance and enforcement, Gensler says
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...
Judge approves settlement in lawsuit over Wells Fargo unauthorized accounts
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...
NASAA issues report on compliance by brokerages with Regulation Best Interest
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...
