Several major US banks expressed concerns last week about a range of issues confronting their industry despite record profits during the third quarter, according to a report by Bloomberg. The combined profits for Wells Fargo, JPMorgan and Citigroup were reported to...
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Financial News
SEC proposal involving use of artificial intelligence draws opposition
The Securities and Exchange Commission's proposal regarding the use of artificial intelligence is running into opposition from some financial industry trade groups, reports Financial Advisor. In July, the SEC proposed new rules that would require broker-dealers and...
World Investor Week held to raise awareness of investor protection
Regulators around the world, including the Securities and Exchange Commission, have been taking part in World Investor Week (WIW) 2023 to spotlight issues of importance to investors. The SEC said it has been hosting a number of outreach events during WIW, held from...
SEC adopts amendments to prevent misleading or deceptive fund names
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...
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...