Regulation

The worst fiscal crisis in decades is pitting U.S. states against one another over billions in taxes from residents working from home.

The wealth manager whose parent firm also owns an insurer and asset manager settled its third case involving the same time period.

The allegations involving 12b-1 fees, cash sweeps and commissions also include violations of best execution rules.

“We look forward to our day in court and will not be bullied by the regulatory thugs at the SEC," the firm's co-founder says.

Despite pledges, the IBD network didn’t collect enough data for suitability reviews of the outside transaction for more than five years, according to the regulator.

The revelation is buried in an SEC enforcement action that accused Robinhood of hiding for years how it made the bulk of its revenue.

The popular trading app omitted information about its payment for order flow practice, the regulator says.

The state’s securities regulator claims the popular app uses “gamification” to manipulate customers and fails to prevent frequent outages on its trading platform, among other misconduct.

The regulation permits more exemptions from fiduciary duties, but may itself be replaced by the incoming Biden administration.

There are still plenty of challenges and potential changes on the horizon. Here’s what to watch for.