A settlement has been reached in connection with a class-action lawsuit filed by clients of UBS Financial Services, AdvisorHub reports. UBS agreed to pay $2.5 million to settle the lawsuit filed by bondholders who asserted common law claims for breach of contract and...
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Regulatory Investigations
FINRA sends amended proposal on remote locations to SEC
New proposals on remote work locations have been filed by the Financial Industry Regulatory Authority, according to ThinkAdvisor. FINRA filed its proposed rule changes earlier this month with the Securities and Exchange Commission for amendments to Rule 3110. Under...
FINRA continues to increase number of on-site exams of firms
Officials with the Financial Industry Regulatory Authority discussed their evolving approach to on-site examinations recently, ThnkAdvisor reports. FINRA's Examination team examines every member firm on a regular basis to ensure firms remain in compliance with FINRA...
House subcommittee approves bill to block several SEC rule proposals
A House of Representatives subcommittee approved a bill that would eliminate funding for several pending Securities and Exchange Commission rules, InvestmentNews reports. The measure, the Financial Services and General Government Appropriations bill, was released by...
Advisory committee approves proposal to enhance SEC oversight of RIAs
A new proposal is aimed at enhancing the Securities and Exchange Commission’s oversight of registered investment advisory firms, AdvisorHub reports. The proposal was approved by the SEC’s Investor Advisory Committee (IAC), which focuses on investor-related interests,...
