San Francisco-based robo adviser SoFi Wealth, LLC stands accused by the Securities and Exchange Commission of “breaches of fiduciary duty” regarding approximately 20,000 exchange-traded-funds (ETF) customers. In the customary formulation, the advisory firm neither admits nor denies the SEC charges. However, it is paying the $300,000 penalty. And it has agreed to be censured and… Read More >>
SEC Moves to Modernize Public Company Disclosures
The SEC has voted to make proposals that will “modernize and simplify disclosure requirements for public companies, investment advisers, and investment companies.” Those proposals will affect regulation S-K, which sets out public companies’ reporting requirements for annual reports and initial public offerings (IPOs), among other required public filings. The commission’s “proposed amendments would make adjustments… Read More >>
