October 22, 2024
The US Securities and Exchange Commission’s examiners will step up scrutiny of financial firms’ use of artificial intelligence next year, the latest sign of regulators’ growing concerns about the emerging technologies. Investment advisers, brokers, clearing agencies and others can expect …
March 6, 2024
OpenAI fired back at a lawsuit filed against it by Elon Musk in a blog post Tuesday, using the billionaire’s own emails to show he backed the company’s plans to become a for-profit business and that he insisted it raise …
February 8, 2024
Johnson & Johnson was sued by an employee who said the company’s health plan wasted workers’ money by paying inflated prices for prescription drugs. In one instance, the health plan agreed to pay more than $10,000 for a drug to …
June 5, 2023
Freshpet Inc.’s board members were sued by activist shareholder Jana Partners over claims they breached their fiduciary duty by changing the number of directors up for election and accelerating its annual shareholder meeting. Jana Partners, which has declared a proxy …
May 3, 2023
Massachusetts’ highest court on Wednesday will consider whether to revive a state fiduciary duty rule that was central to an enforcement action securities regulators filed against the online brokerage Robinhood. A subsidiary of Robinhood Markets Inc. and Massachusetts Secretary of …
March 16, 2023
A licensed insurance agent, and the insurer she represents, owe a duty of care to a customer to explain coverages but neither the agent nor the insurer has a fiduciary duty to an insured under Connecticut law. U.S. District Judge …
June 5, 2019
The U.S. Securities and Exchange Commission (SEC) on Wednesday will vote to adopt a package of rules mandating brokerage firms disclose potential conflicts in the fees investors pay and the commission brokers earn when giving financial advice. The Regulation Best …
May 30, 2019
Insurance agency acquisitions and deal values are near an all-time high and all expectations are that deal flow in 2019 will match or exceed last year’s numbers. And while reported numbers tend to skew towards larger agency transactions, there are …
July 1, 2014
A South Carolina jury on Monday awarded $8.1 million to a former adviser who sold his wealth management business to BB&T Corp. and later alleged that the company mismanaged his retirement nest egg with a risky strategy, according to a …
November 22, 2013
Investment brokers advising retail customers should be held to a standard that requires them to recommend products that are in the best interest of clients, according to a proposal from a group advising U.S. regulators. Members of the Securities and …