Seven decades and another economic crash later, the debate over legal obligations of financial advisers is far from over.
On March 15, a federal court ruled against an Obama-era regulation by the U.S. Department of Labor called the fiduciary rule, which would require financial advisers to prioritize their clients’ interests above benefits their firms could receive while making retirement account investments.
The Latest: SEC chair won’t comment on Equifax exec trades
WASHINGTON (AP) — The Latest on SEC Chairman Jay Clayton's appearance before the Senate Banking Committee (all times local):
The chairman of the Securities and Exchange Commission refused to comment Tuesday when asked if executives at Equifax engaged in insider trading when they sold shares after the company learned of a massive data breach but before it disclosed the hack to the public.
SEC: hackers may have traded on ‘insider’ corporate info
The Securities and Exchange Commission disclosed the possibility that hackers who infiltrated its system for corporate filings may have made “insider” trades based on information that had yet to become public.
SEC reveals 2016 hack that breached its filing system
NEW YORK (AP) — The Securities and Exchange Commission said Wednesday that a cyber breach of a filing system it uses may have provided the basis for some illegal trading in 2016.
In a statement posted on the SEC's website, Chairman Jay Clayton said a review of the agency's cybersecurity risk profile determined that the previously detected "incident" was caused by "a software vulnerability" in its EDGAR filing system.
WASHINGTON (AP) — President Donald Trump will nominate Lew Eisenberg, a major Republican fundraiser, to serve as the next ambassador to Italy.
Eisenberg, a partner at Goldman Sachs from 1966 to 1989, ran the Republican National Committee's joint fundraising operations with Trump's campaign.
WASHINGTON (AP) — The Senate on Tuesday confirmed Jay Clayton, the Wall Street attorney chosen by President Donald Trump to lead the Securities and Exchange Commission.
The vote was 61-37 to give Clayton the job of running the independent agency that oversees Wall Street and the financial markets. Nine Democrats and one independent, Maine's Angus King, joined 51 Republicans in backing the nominee.
WASHINGTON (AP) — A Senate panel has cleared the nomination of Jay Clayton, the Wall Street attorney chosen by President Donald Trump to lead the Securities and Exchange Commission.
The vote was 15-8 Tuesday by the Senate Banking Committee, as three Democrats joined the panel's Republicans in approving Clayton. The confirmation of Clayton to head the independent agency that oversees Wall Street and the financial markets now goes to the full Senate, where approval is expected.
WASHINGTON (AP) — President Donald Trump's nominee to lead the Securities and Exchange Commission, attorney Jay Clayton, sought to assure lawmakers that he'll show no favoritism and act only in the public interest, as his Wall Street connections were scrutinized at his Senate confirmation hearing Thursday.
WASHINGTON (AP) — Goldman Sachs may be about to get another friend in Washington.
Jay Clayton, a well-connected Wall Street lawyer who is President Donald Trump's pick to lead the Securities and Exchange Commission, is sure to face sharp questions from Democrats at his confirmation hearing Thursday over his years of work for Goldman and other financial giants.
SEC nominee reveals possible Wall Street conflicts
WASHINGTON (AP) — The Wall Street attorney chosen by President Donald Trump to head the Securities and Exchange Commission has worked on many of the kinds of deals the agency regulates and represented some of the world's biggest financial firms.
Insider Q&A: Duke University expert James Cox on SEC future
WASHINGTON (AP) — President Trump has named Jay Clayton, a Wall Street attorney who worked on mergers and IPOs, to head the Securities and Exchange Commission. Last week Trump ordered a review of the 2010 Dodd-Frank law, which reshaped regulation of the banking industry after the financial crisis. He called the law a "disaster."