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Tagged with "Eccleston Law"

SEC Proposes Enhanced Examination Resources For RIAs in Light of Industry Growth

Posted on July 25th, 2023 at 8:42 AM
SEC Proposes Enhanced Examination Resources For RIAs in Light of Industry Growth

The Securities and Exchange Commission's (SEC) Chair, Gary Gensler, has presented a solution to address the challenge of overseeing the growing number of registered investment advisors (RIA) within the Division of Examinations.

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SEC Wants to Add 83 Examiners

Posted on July 21st, 2023 at 1:22 PM
SEC Wants to Add 83 Examiners

The Appropriations Committee appropriated $2.4 billion to the Securities and Exchange Commission (SEC), $194 million more than the fiscal year 2023 enacted level and close to $73 million less than the budget request.

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Oklahoma Adopts Best Interest Annuity Rule

Posted on July 20th, 2023 at 1:14 PM
Oklahoma Adopts Best Interest Annuity Rule

Oklahoma joins 39 other states including Illinois, Georgia, Washington, Florida, Tennessee, Kansas, Oregon, and Wyoming by finalizing a best-interest rule for annuities.

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Silver Star Properties REIT Investigated by SEC

Posted on July 19th, 2023 at 1:15 PM
Silver Star Properties REIT Investigated by SEC

Silver Star Properties REIT Inc. received notice of an investigation by the Securities and Exchange Commission.

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First Republic Deal Adds $151 Billion to JP Morgan’s Wealth Assets

Posted on July 18th, 2023 at 3:52 PM
First Republic Deal Adds $151 Billion to JP Morgan’s Wealth Assets

JPMorgan Chase & Co.’s acquisition of First Republic Bank will add $150.9 billion of client assets to JPMorgan’s wealth segment in its Consumer & Community Banking division, according to the company’s earnings report.

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UBS Agrees to Settle Class-Action Municipal Bonds Suit for 2.5 million

Posted on July 17th, 2023 at 9:08 AM
UBS Agrees to Settle Class-Action Municipal Bonds Suit for 2.5 million

In the case Goodman v. UBS Financial Services, 21-cv-18123, U.S. District Court, New Jersey, a federal judge in New Jersey gave preliminary approval to UBS Financial Services’ $2.5 million deal on Wednesday.

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FINRA Bars Illinois Advisor for Failing to Disclose Private Securities Transactions

Posted on July 17th, 2023 at 8:51 AM
FINRA Bars Illinois Advisor for Failing to Disclose Private Securities Transactions

The Financial Industry Regulatory Authority (FINRA) has barred an Illinois-based representative, David R. Geake, due to allegations of soliciting an elderly couple to invest in a startup he was involved with.

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SEC to Implement New Rules for Money-Market Mutual Funds, Potentially Clashing with Industry Giants

Posted on July 13th, 2023 at 11:18 AM
SEC to Implement New Rules for Money-Market Mutual Funds, Potentially Clashing with Industry Giants

The US Securities and Exchange Commission (SEC) is preparing to enforce a series of new regulations on money-market mutual funds, potentially leading to a confrontation with major players in the $5.5 trillion industry.

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FINRA Bars Former Wells Fargo Broker for Non-Cooperation in Investigation

Posted on July 12th, 2023 at 11:45 AM
FINRA Bars Former Wells Fargo Broker for Non-Cooperation in Investigation

The Financial Industry Regulatory Authority (FINRA) has barred Brad M. Jacobson, a former broker at Wells Fargo Advisors and a 17-year wirehouse veteran, due to his failure to cooperate with an investigation into his termination.

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FINRA Reports $218 Million Net Loss in 2022; CEO Compensation Surges by 11.5%

Posted on July 11th, 2023 at 11:42 AM
FINRA Reports $218 Million Net Loss in 2022; CEO Compensation Surges by 11.5%

According to its annual report, the Financial Industry Regulatory Authority (FINRA) reported a net loss of $218.1 million in 2022, compared to a net profit of $218.8 million in 2021.

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