The online trading firm has agreed to settle the Securities and Exchange Commission fines, related to 10 violations, including failures to report suspicious activity in a timely manner, implement adequate identity theft protections and provide “blue sheet data” to the SEC.
The financial services firm failed to detect “hundreds” of instances when former employees misappropriated client funds because it did not have a reasonable system in place, said the Securities and Exchange Commission.
A team of investigators found that health plans corrected or removed just 38% of the inaccurate entries within about a year, instead of 90 days required by federal law.
Six investor advocacy groups are opposing CITs in 403(b)s because some plans are not governed by ERISA, so eliminating SEC’s regulatory oversight is detrimental, in a letter to the Senate committee.
Following Trump's election victory, significant policy shifts are expected in Washington, which will likely lead to more legal battles and regulatory uncertainty.
After getting fined $35 million by the Securities and Exchange Commission in September, Invesco is fined again – this time for violations of the Advisers Act.
Callahan Financial, Richard Bernstein and other registered investment advisors made untrue or unsubstantiated claims or lacked required disclosures, according to the Securities and Exchange Commission.
Ameriprise, Edward Jones and other big names in wealth management have agreed to pay hefty fines, after a years-long sweep of 26 firms for "widespread and longstanding failures" to preserve electronic communications.