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...
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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...
Lawsuit filed against SEC over new rules enhancing regulation of private fund advisers
The Securities and Exchange Commission is facing a lawsuit over its recently adopted rules to increase the regulation of private fund advisers, reports Reuters. Six private equity and hedge fund trade groups filed the suit in the United States Court of Appeals for the...
SEC issues risk alert over selection of RIAs for examinations
The Securities and Exchange Commission issued a risk alert regarding its examination process for registered investment advisers, according to AdvisorHub. In the alert, the commission's Division of Examinations detailed the steps it takes in determining which firms to...