Law and regulation

The New York Department of Financial Services' letter indicating potential cyber rules are prompting concerns that the state's plans could lead to more stringent measures throughout the industry.

BlackRock is winding down a global macro hedge fund after losses and investor redemptions eroded assets.

Franklin Resources, which has more than $800 billion under management, hired Patrick O’Connor from BlackRock to head global ETFs.

The Cybersecurity Information Sharing Act, which has advanced far on Capitol Hill, promises to help businesses and government thwart cybercriminal attacks. But privacy advocates say the bill would make misuse of consumer data even easier.

Advisors using digital advice tools must implement compliance best practices to help mitigate areas of risk that technology — like a double-edged sword — can both cause and combat.

Though a majority of firms agree investments in technology are necessary to remain competitive, just over a quarter are actually making that investment.

The hefty penalty is one result of an SEC investigation into performance claims of the AlphaSector ETF-linked strategy.

Wyatt takes the job after heading OCIE on an interim basis as the commission struggles with advisor exam cycle.

Officials should ask "whether these new robo advisors can be neatly placed within our existing laws," SEC commissioner says.

State alleges Realty Capital Securities employees impersonated shareholders to game proxy votes and advance management agenda.