Law and regulation

Joseph Orazio DeGregorio convinced his victims to invest in promissory notes and companies that never even existed.

Purshe Kaplan Sterling Investments didn’t adequately review thousands of leveraged ETF transactions, according to Massachusetts state regulators.

Yan Zhao, President of NYDIG as she exploreshow Bitcoin is experiencing wider adoption in the traditional finance world, and why that is.

Financial advisors have a variety of objectives in working with their investment-planning clients. But when all is said and done, clients are usually mainly interested in a successful road map to growing and protecting their wealth to and through retirement.

Brokerages that want to hire someone with a checkered past have to undergo a “consultation” with the watchdog and may have to try to renew their memberships.

Five years into scandals that have already cost Wells Fargo more than $5 billion in fines and legal settlements, regulators are privately signaling they’re still not satisfied with the bank’s progress in compensating victims and shoring up controls.

Community banks have played and will continue to play a key role in supporting local economies across the country. Join us in a lively conversation with Dennis E. Nixon, President & CEO of International Bank of Commerce (Laredo, Texas) & Chairman, International Bancshares Corporation and Eddie Aldrete, Senior Vice President at International Bank of Commerce as we discuss: (1) the need for bankers and the business community to become involved in political issues. From minimum wage and issues that affect small businesses to regulatory issues that directly affect the banking industry, banking and business leaders need to be thought leaders in the public conversation and (2) how bankers can play a pivotal advocacy role in the free trade process.

According to the latest Federal Deposit Insurance Corporation (FDIC)’s “How America Banks” report, there is an estimated 7.1 million unbanked households in 2019. Given the record levels of unemployment, the pandemic has brought on the FDIC expects this number to rise. Join Joe Adler, American Banker’s Washington Bureau Chief and Leonard Chanin, Deputy to the Chairman of the FDIC as they discuss the FDIC’s stance on financial inclusion and how banks can get millions of unbanked Americans into the traditional banking system.

While efforts to recover cash through litigation have repaid nearly 70% of valid claims, hundreds say they have been victimized a second time by that system.

Documents shed light on how two brokers overseeing trainees allegedly called hundreds of phone numbers on Merrill’s Do Not Call list.

The senior executives, all from the company’s consumer banking unit, agreed to pay six-figure fines in connection with the 2016 unauthorized account scandal.

The industry’s largest money manager experienced record inflows to sustainable products in the first six months of the year.

The company's outgoing CFO discussed ways the asset cap is stunting growth, but provided no updates at an industry conference on when the restriction might be lifted or the types of jobs it will cut.

The department faced scathing criticism for hours from insurers and consumer advocates alike.

The department’s new proposal would restrict when fiduciaries can vote in retirement plans.

Previously, criteria focused on an investor’s wealth. Now, a broader group has access to investments that include private company offerings and certain private equity funds.

Some advisors have questioned the ethics of taking the loans, intended to help small businesses keep their employees on payroll.

Secretary of Labor Eugene Scalia said retirement plans aren’t for “furthering social goals or policy objectives that are not in the financial interest of the plan.”

The changes being sought would benefit both small businesses and banks, which would avoid the cost of servicing many low-yielding loans.