Regulatory reform

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.