Regulation

Regulators accused the firm of misleading customers about fees and of not being upfront about conflicts of interest with its recommendations of mutual funds, private equity and other investments.

Is your firm promoting diversified advisors? Can your clients relate to you despite cultural differences? Those questions and more were addressed by leaders of top wealth firms and regulatory agencies during FINRA's Diversity Leadership Summit this week.

The industry watchdog continues its recently adopted practice of giving firms monthslong advance warning of its examination priorities before the start of the new year.

Among the proposals the Biden-appointee still has to shepherd across the finish line are rules for eliminating conflicts from AI recommendations and cybersecurity requirements for advisors and broker-dealers.

The SEC has charged Thrivent Investment Management for failing to comply with Regulation Best Interest's care and compliance obligation in connection with recommendations to retail investors in 529 Savings Plans.

After helping to lead a crackdown on the cryptocurrency industry and Wall Street's use of off-channel communications, Gurbir Grewal is leaving the SEC.

Agencies including FINRA and the SEC are looking at new risks posed in common use cases of AI — meeting dictation services, chatbots and using data to hyper-personalize ads.

A pair of wealth managers stand accused of allocating trading gains to themselves and losses to their clients in a way that had "nearly zero" chance of happening at random.

Leaders at FINRA, Fidelity and ACA Foreside discussed the steps they take to safely market new investment products like ETFs and cryptocurrencies on social media and other platforms while staying in compliance with advertising regulations.

At FINRA's advertising regulation conference in Washington, D.C., leaders said they are looking at how broker-dealers are using large language models and AI translation services.