Regulation

The Securities and Exchange Commission rescinded a policy Monday requiring defendants in settled enforcement actions not to publicly deny the SEC's allegations.

The SEC is now focused on "quality of cases versus quantity," the SEC chairman said during a discussion held as part of the 2026 FINRA Annual Conference.

A series of settlements and arbitration awards since late 2022 require Stifel to pay hundreds of millions over recommendations made by its former broker Chuck Roberts.

The number of SEC enforcement actions have dropped during the second Trump administration. But the new head of the division said he supports "quality over quantity."

Defendants who've reached settlements with industry regulators complain their First Amendment rights are breached by orders forbidding them to talk about their cases.

NASAA's proposal would align state laws with the SEC's marketing rule, eliminating concerns advisors have about running afoul of more local laws as they accept testimonials and reviews.

A lawyer representing a former UBS investor said he proved to FINRA arbitrators that his client would have been much better off simply putting her money into the stock market.

Thirty advisors recruited by LPL Financial from Ameriprise had objected to a court order that they turn over their cell phones, computers and other devices to be searched by a third-party forensic examiner.

The proposal is part of what SEC Chairman Paul Atkins calls his "Make IPOs Great Again" agenda.