Regulatory reform

Also this month in our disciplinary digest, a now-barred 'problem broker' for Stifel lands his former firm another hefty settlement, and an advisor is accused of fraud for trying to poach clients from his old firm.

The regulator's Investor Advisory Committee said policymakers could abandon asset and income thresholds for determining who can put money into private markets and instead adopt a "sophistication" standard.

The latest revision to state regulators' guidelines for non-traded real estate investment trusts could change who can invest and how advisors can recommend the products to clients.

Also this month in our disciplinary digest, a frequent CNBC analyst is sentenced to five years in prison for defrauding investors, and a former Fidelity advisor faced charges after borrowing millions from clients.

As head of the SEC's enforcement division, Margaret Ryan is expected to pursue the administration's priority on fighting fraud and insider-trading cases, while taking a lighter touch than her precessor with the crypto industry.

A proposed "model rule" would give state regulators laws they could adopt to bring their marketing regulations for investment advisors in line with the SEC's.

The industry watchdog is walking away from more than a dozen regulatory reforms that had drawn staunch opposition from advisors and industry groups.

An advisory panel has recommended changes that would bring arbitration rules for RIAs into line with those now governing FINRA proceedings for broker-dealers. The proposal still has to get through the SEC.

Amid a broad deregulatory push, industry watchdogs are seeking to lower barriers that now limit many alternative investment products to so-called accredited investors.

Investor advocates and others worry that recent changes to who can serve on FINRA panels will exclude arbitrators most likely to be sympathetic to ordinary investors.

Industry groups argue a new rule under consideration would give brokerage firms new oversight responsibilities over unaffiliated RIAs — a contention FINRA denies.

Regulators say they are seeking fairness, noting that firms that reached deals with the SEC before the start of the year are under fewer regulatory mandates.

A judge found that the alleged victims of a scam run by a now-disgraced representative of Oppenheimer furnished no evidence of having direct ties to the firm.

States can now adopt a model rule that will prevent brokers from holding themselves out to the public as "advisors" or "advisers."

UBS contends the nearly $70 million in punitive damages it has been ordered to pay a wealthy Iowa family are not justified under federal or state law.

The public has until May 13 to comment on a proposal that would prevent brokers from having to list side hustles like online antiques stores or after-hours bartending gigs.

Pending the confirmation of Trump-appointee Paul Atkins, acting chair Mark Uyeda is pushing back effective dates for pending rules and curtailinig crypto regulation.

With the Trump administration pledging to review recently passed federal rules, the Investment Adviser Association wants to submit new comments on an anti-money-laundering law for RIAs.

In an annual release, law firm Eversheds Sutherland finds the broker-dealer self-regulator's total number of enforcement actions increased last year, even as its fine haul fell.

Hester Pierce, a Republican SEC appointee, said industry watchdogs had previously been practicing regulation by enforcement with digital assets.