Regulatory reform

Paul Atkins has a long history of criticizing industry watchdogs for what he considers regulatory overreach and is expected to take a light hand with the crypto industry.

Compliance experts think the costs of going along with a sweeping investigation are ignored by regulators touting the benefits of cooperation.

The SEC Chair oversaw a sweeping rulemaking agenda that drew resistance from many advisory and brokerage industry representatives.

Whoever is named SEC chair by the president-elect is likely to take a lighter hand on crypto, AI and "regulation by enforcement."

Big firms would be paying $415,000 a year more by 2029, while most brokers would see a far smaller hit.

A judge's opinion is likely to be cited in scores of arbitration cases in which ex-advisors say they are still owed money from big wealth management firms.

Industry lawyers predict the next head of the Securities and Exchange Commission will try to be more accomodating of the ever-changing digital assets industry.

The regulators' organization is also seeking to let state regulators enforce the same Reg BI conduct standard that federal watchdogs now apply to broker-dealers.

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.

Merrill and a partner firm were accused of running a complicated yield enhancement strategy, or CYES plan, of the type that has long been in regulators' crosshairs.

A pair of SEC commissioners say the treatment of the brokerage firm Qatalyst shows industry watchdogs expect nothing short of perfection with regulatory matters.

The court filings seek to overturn two injunctions federal courts imposed after finding the Department of Labor's new conduct standard is too similar to a previous one vacated in 2018.

Large exchanges argue some of the changes could make it more costly for them to offer rebates to brokers in return for order flow.

If successful, previously banned brokers might be free to "fleece your grandma" again, an expert warned.

The proposed changes, including to brokers' "payment for order flow" practices, laregly come in response to frenzied trading in so-called meme stocks.

RIAs including Abacus Planning Group, Beta Wealth Group, Integrated Advisors Network were accused of violations ranging from making unsubstantiated statements to claiming membership in nonexistent organizations.

Citigroup finds 31% of the changes needed for the move to faster settlement cycles still have to be completed.

Industry groups see the new AML requirements as unnecessarily redundant and burdensome on small firms.

The arbitration decision comes more than a year after SW Financial was expelled from the industry for violating Regulation Best Interest.

The Federal Trade Commission says it's weighing a likely appeal of the ruling.