Keith Berman defrauded medical device investors and lied to the FDA. The CEO of a fraudulent California biotechnology company was sentenced to seven years of prison on Friday…
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SEC Pauses Climate Disclosure Investment Rule
The rule is currently the subject of lawsuits brought by state attorneys general. The Securities and Exchange Commission (SEC) announced that it will pause the implementation of its…
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SEC Fines Two Investment Firms for “AI Washing”
Chair Gensler says advisors should not claim to use AI when they do not. The Securities and Exchange Commission (SEC) fined two investment companies a combined $400,000 for…
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SEC Votes to Approve Emissions Disclosure Requirement for Investments
The rule will not apply to small businesses. The Securities and Exchange Commission (SEC) voted to pass a new climate disclosure rule for large and medium-sized companies offering…
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SEC Committee Discusses Proposed Regulation of Financial AI
Opinions differ regarding the purpose of regulation. An advisory committee for the Securities and Exchange Commission (SEC) recently met to review the agency’s latest draft for a policy…
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Administration Updates Rules on Junk Fees in Retirement Planning
SEC regulation will close loopholes allowing advisors to recommend products that do not offer benefits. President Joe Biden and administration officials have announced tightened rules to clamp down…
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Gary Gensler, Chair, Securities and Exchange Commission
Gary Gensler, Chair, Securities and Exchange Commission
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5th Circuit Court Upholds Nasdaq Board Diversity Rule
Judges state the board information is important for transparency. The 5th Circuit Court of Appeals rejected the latest lawsuit filed by Edward Blum and upheld Nasdaq’s board diversity…
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SEC Chair Warns of AI Threat to Financial Systems
Investment advisors should not overly rely upon artificial intelligence for financial data interpretations. Securities and Exchange Commission (SEC) Chairman Gary Gensler recently warned of the current risks artificial…
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America’s Credit Rating Downgraded
Treasury Secretary Yellen objects to reduction even as the nation may borrow $2 trillion by yearend. Fitch Ratings, Inc. downgraded its rating of the stability of the federal…
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