The SEC charged BNY Mellon Investment Adviser, Inc. for misstatements and omissions about Environmental, Social, and Governance (ESG) considerations in making investment decisions for certain mutual funds that it managed.
Despite Americans’ worries about health care and long-term care costs in retirement, they still desire to live longer, and nearly seven in 10 Americans (69%) want to live to age 100.
The millennial generation (aged 26-41) has been pegged with stereotypes of careless spending and saving habits since the early 2010s. However, with the oldest members of this generation now entering their 40s, they are busting out-of-date perceptions by applying what they’ve learned after living through past financial crises.
Low interest rates, investors’ ongoing search for yield, and strong acquisitions activity continue to create a supportive environment for real estate financing and alternative lenders across the globe, contributing to a record $22.38 billion in worldwide originations last year for PGIM Real Estate.
The SEC’s complaint alleges that, for years, Vale knew that the Brumadinho dam, which was built to contain potentially toxic byproducts from mining operations, did not meet internationally-recognized standards for dam safety.
On average, women who share money management duties with their partner take more than half of the responsibility for household finances (55% of the work), investments (54%), and retirement planning (55%).
The Securities and Exchange Commission announced insider trading charges against three software engineers employed at Twilio, Inc., a San Francisco-based cloud computing communications company, and four family members and friends.
The Securities and Exchange Commission today proposed rule changes that would require registrants to include certain climate-related disclosures in their registration statements and periodic reports, including information about climate-related risks that are reasonably likely to have a material impact on their business.
With cryptocurrency reaching $3 trillion in market capitalization in 2021 before falling back to $2 trillion amidst market volatility in early 2022, it is increasingly important for market participants, including asset managers and advisors, to engage and take a view.
Even a short period of high inflation will significantly impact retirement healthcare costs and budgets, according to new research
Forty-six percent of near retirees do not expect income from a defined benefit pension compared to only 23 percent of retirees. Notably, many respondents may mistakenly believe their defined contribution plan (401(k), 403(b), etc.) is the same as a pension.
The SEC today charged siblings John and JonAtina (Tina) Barksdale with defrauding thousands of retail investors out of more than $124 million through two unregistered fraudulent offerings of securities involving a digital token called “Ormeus Coin.”
The fines reported by FINRA in 2021 increased to $91 million from $57 million in 2020, a 60% increase. This dramatic bump was assisted by a single, record-setting $57 million fine and represents the highest total in fines since 2016 when FINRA ordered $174 million in fines.
The Securities and Exchange Commission today charged a previously-barred North Carolina-based investment adviser with lying to retail investors about the use and value of their investments.
The SEC announced that registered investment adviser City National Rochdale has agreed to pay more than $30 million to settle charges that its undisclosed conflicts of interest defrauded current and prospective clients.
BlockFi Lending agreed to settle a case involving BlockFi’s offering and selling unregistered securities in the form of interest-bearing digital asset deposit accounts called BlockFi Interest Accounts (BIAs) to residents in several states.
The Securities and Exchange Commission today announced that six investment advisers and six broker-dealers have agreed to settle charges that they failed to file and deliver client or customer relationship summaries – known as Form CRS – to their retail investors by the required deadline.
The Securities and Exchange Commission charged New York-based robo-adviser Wahed Invest with making misleading statements and breaching its fiduciary duty, and for compliance failures related to its Shari’ah advisory business.
Two-thirds (67%) of individuals with debt are not planning to refinance or consolidate their debt in the next year, possibly missing an important financial savings opportunity amidst the current economic and interest rate environment, a new survey finds.
The SEC announced charges against Safeguard Metals LLC, and its owner, Jeffrey Santulan, for engaging in a multimillion dollar fraudulent scheme involving hundreds of investors who were at or near retirement age.
Consumers of all ages are looking for more information and service, and they’re turning to realtors, insurance agents and financial advisors to get it, according to a new survey from Agentero, a digital insurance network.
Those feeling anxious about their 2022 finances also named the top factor contributing to their financial anxiety, with inflation (32%), job and career concerns (16%), COVID-19 (14%), medical/health expenses (10%), and debt (10%) leading the pack.
Financial services firms who invested in next-gen technologies and continued their digital transformation push in 2021 are already experiencing the positive effects of these investments, according to a new global survey.
The Securities and Exchange Commission announced that Nikola Corporation, a publicly traded company created through a special purpose acquisition company transaction, has agreed to pay $125 million to settle charges that it defrauded investors.
When financial professionals were asked to build their ultimate $1 million retirement income portfolio for an average client, they would allocate just 20% of the assets to bonds, while putting 18% into annuities.
According to a recent survey of advisors and financial professionals conducted for Nationwide by ETF Trends, nearly 9 in 10 (86%) advisors are at least somewhat concerned about achieving their clients’ income needs over the next three years.
One of the long-term planning solutions plan sponsors could consider to help employees retire on time is offering guaranteed lifetime income investment options for participants. In fact, about half (46%) of plan participants are interested in these options.
Credit Suisse Group AG has agreed to pay nearly $475 million to U.S. and U.K authorities, including nearly $100 million to the SEC, for fraudulently misleading investors and violating the Foreign Corrupt Practices Act (FCPA) in a scheme involving two bond offerings and a syndicated loan that raised funds on behalf of state-owned entities in Mozambique.
Plan sponsors overwhelmingly see the value of guaranteed lifetime income options according to new research released today by Allianz Life. In addition, the majority are now ready to begin offering these new choices.
The Securities and Exchange Commission today filed two complaints charging four individuals and five entities for their roles in an allegedly fraudulent microcap scheme that generated more than $10 million in unlawful stock sales.
Allianz Life’s 2021 Retirement Risk Readiness Study identifies distinct differences among ethnicities regarding retirement risks as well as interest in getting help from a financial professional.
The Securities and Exchange Commission announced insider trading charges Friday against Dayakar R. Mallu, of Orlando, Fla., who generated gains and avoided losses totaling over $8 million by trading in the securities of his former employer.
The Securities and Exchange Commission today announced settled charges against Murchinson Ltd.; its principal, Marc Bistricer; and its trader, Paul Zogala, for providing erroneous order-marking information that caused executing brokers to violate Regulation SHO.
The Securities and Exchange Commission today announced an emergency action charging nine individuals, including a public company chairman, for their participation in long-running fraudulent schemes.
Workers are weathering a public health crisis and contending with fears about the virus and vaccinations, concerns for family and friends, employment impacts, and financial setbacks.
LGBTQ Americans have big goals when it comes to retirement, according to Lincoln Financial Group’s 2021 Retirement Power Study.
Nine out of 10 financial advisors surveyed believe it is important to manage risk in client portfolios. Moreover, 88% believe it is more important to effectively manage risk in their clients’ portfolios than have the highest gains.
Despite a global pandemic that created uncertainty in the employment and financial markets, the 2021 Retirement Confidence Survey found 80% of retirees are confident in their ability to live comfortably throughout retirement.
The Securities and Exchange Commission charged Israeli-based Spot Tech House Ltd., formerly known as Spot Option Ltd., and two of its former top executives, Malhaz Pinhas Patarkazishvili (also known as Pini Peter) and Ran Amiran, with deceiving U.S. investors out of more than $100 million.
The Securities and Exchange Commission today charged seven individuals, including criminal recidivist Richard Dale Sterritt, Jr., with defrauding investors through a multimillion dollar oil-and-gas offering fraud and related market manipulation scheme.
CFP Board will offer any candidate the option to take the CFP® exam either in person at a traditional brick-and-mortar Prometric test center or through a remote proctoring option for both its July 2021 and its November 2021 exam testing windows.
According to the 2021 Q1 Quarterly Market Perceptions Study from Allianz Life Insurance Company of North America, nearly three-quarters (74%) of Americans believe markets will continue to be very volatile in 2021, up slightly from 72% in Q4 2020.
The Securities and Exchange Commission today announced fraud charges and an asset freeze and other emergency relief against an Irvine, Calif.-based trader who used social media to spread false information about a defunct company, while secretly profiting by selling his own holdings of the company’s stock.
The study reveals that U.S. millionaire investors – households with $1 million to $5 million in net worth, not including the value of their primary residence (NIPR) – increased by 600,000 to 11.6 million in 2020, a 5.5 percent increase over the previous year.
Advisors’ practices are not immune to the business impact of COVID-19. Just as expectations for profitability have declined dramatically for the most successful advisors and financial professionals in 2020, only 52% of all other advisors and financial professionals expected the profitability of their practice to increase in the next 12 months.
The Securities and Exchange Commission has charged AT&T, Inc. with repeatedly violating Regulation FD, and three of its Investor Relations executives with aiding and abetting AT&T’s violations, by selectively disclosing material nonpublic information to research analysts.
The Securities and Exchange Commission’s Division of Examinations today announced its 2021 examination priorities, including a greater focus on climate-related risks. The Division will also focus on conflicts of interest for brokers and investment advisers.
The Securities and Exchange Commission today charged seven individuals and a technology company in connection with a fraudulent scheme to gain control of Airborne Wireless Network, promote its stock, and defraud investors.
As part of its continuing effort to respond to potential attempts to exploit investors during the recent market volatility, the Securities and Exchange Commission suspended trading Friday in the securities of 15 companies because of questionable trading and social media activity.
The Securities and Exchange Commission today suspended two former KPMG auditors from practicing before the SEC in connection with settled charges against the two for improper professional conduct during an audit of the now defunct, not-for-profit College of New Rochelle.
Former White House National Economic Council Director, Larry Kudlow, is joining The Bahnsen Group, a $2.6 billion national wealth management firm with offices in New York City and Newport Beach, California, as an economic advisor.
Nearly three-quarters (70%) of Americans are considering adding another source of income after witnessing the economic damage caused by the COVID-19 pandemic, according to a survey released today from the National Association of Personal Financial Advisors (NAPFA).
According to Conning, high dividend equity strategies can serve institutional investors in this period of low interest rates by enhancing income and portfolio diversification along with the potential for capital appreciation.
A new research report reveals that while nearly half of mid-size bank and credit union executives are more optimistic about 2021 relative to 2020, they remain especially concerned about the interest rate environment and a weak economy.
Women investors in 2020 reported significantly higher levels of concern about a U.S. economic recession in the next 12 months than they did in 2019 as well as greater concern about a bear market in the next 12 months than they did the prior year, according to Nationwide’s Advisor Authority study.
The Securities and Exchange Commission announced today that it has filed an action against Ripple Labs Inc. and two of its executives, who are also significant security holders, alleging that they raised over $1.3 billion through an unregistered, ongoing digital asset securities offering.
The SEC today announced charges against California-based biotechnology company Decision Diagnostics Corp. and its CEO, Keith Berman, with making false and misleading claims in numerous press releases that the company had developed a working, break-through technology that could accurately detect Covid-19 through a quick blood test.
The Securities and Exchange Commission today announced the creation of the Security-Based Swaps Joint Venture, a collaborative venture among several SEC divisions and offices that will be responsible for coordinating functions related to the regulation of security-based swaps.
The Securities and Exchange Commission today charged China-based company Luckin Coffee Inc. with defrauding investors by materially misstating the company’s revenue, expenses, and net operating loss in an effort to falsely appear to achieve rapid growth and increased profitability.
The Securities and Exchange Commission has charged New York-based brand-management company Sequential Brands Group Inc. with failing to impair its goodwill as required by accounting principles and the federal securities laws.