The SEC approved a plan on Wednesday to root out what Chair Gary Gensler has said are conflicts of interest that can arise when financial firms use artificial intelligence.

A commission report from last month highlights the problem of forced arbitration clauses in contracts between RIAs and clients.

UBS has previously said that legal liabilities related to Credit Suisse could run to as much as $4 billion over 12 months.

The state became the latest to finalize regulation or legislation based on the standard set by the National Association of Insurance Commissioners to align annuity rules with Reg BI.

Only a small fraction of firms have increased their use of client testimonials and endorsements in the wake of the SEC’s updated marketing rules, according to a recent Investment Adviser Association survey.

When working for Coastal Equities, Luke Johnson pushed clients to invest in illiquid alts, including a number of GPB Holdings private placements.

Allianz's guilty plea in the case was unusual. Most companies resolve government investigations by paying money and pledging corrective actions without admitting any wrongdoing.

The new rules are meant to discourage runs like the one in March 2020 and shield remaining shareholders from costs tied to the high level of redemptions.

State regulators claim Raymond James charged customers a a $75 minimum commission charge, regardless of the size of the transaction.

Separately, Merrill Lynch was fined $6 million by the SEC for failing to file hundreds of Suspicious Activity Reports from 2009 to 2019.