The House Financial Services Committee considered (i) testimony from federal banking regulators on a broad range of concerns and (ii) several proposed bills imposing additional requirements on financial institutions.
The SEC charged an entity and several associated individuals with misleading 100 investors - most of whom were seniors - resulting in $4.9 million in losses.
IOSCO examined members regulators' progress toward implementing suitability standards designed to prevent the mis-selling of complex financial products.
Two investment adviser subsidiaries settled SEC charges for failing to disclose conflicts of interest and making misleading disclosures to the funds they advised.
Regulation Best Interest significantly expands the obligations that broker-dealers owe to retail investors. To assist in navigating these new requirements, the Cabinet produced four new Retail Best Interest Topic Pages.
The SEC sued an investment adviser for breach of fiduciary duty and undisclosed conflicts of interest related to revenue sharing arrangements that affected transactions in mutual fund shares.
Regulation Best Interest significantly expands the obligations that broker-dealers owe to retail investors. To assist in navigating these new requirements, the Cabinet produced four new Retail Best Interest Topic Pages.
