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...
Representing financial professionals, financial institutions and investors in investment loss, employment and disclosure matters, and in regulatory investigations nationwide.
Financial News
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...
Slump expected to continue for non-traded real estate investment trusts
A decline in sales of non-traded real estate investment trusts (REITS) is expected to continue in 2024, according to InvestmentNews. A non-traded REIT is a private real estate investment vehicle not listed or traded on a public exchange. Non-traded REITs are designed...
Bill introduced in Congress to prohibit mandatory arbitration agreements
A bill known as The Investor Choice Act has been proposed in Congress in an effort to prohibit mandatory arbitration agreements in the financial industry, Financial Advisor reports. The legislation, introduced by Rep. Bill Foster (D-Ill.) and Sen. Jeff Merkley...
DOL holds hearing on its new rule updating definition of fiduciary
The Department of Labor held a two-day hearing last week to gather input on its new proposed fiduciary rule, according to ThinkAdvisor. The proposal is called the Retirement Security Rule: Definition of an Investment Advice Fiduciary. It would update the definition of...