Twenty-six financial firms are on the hook for $392.75 million in fines for securities recordkeeping violations. Several of the brokers, dealers and investment advisers made themselves a target by not keeping records of their communications. “Off-channel” communication enforcement efforts are up under the Securities & Exchange Commission (SEC). The feds stressed the need for greater […]
So is the long-predicted recession near — or here already? Depends on who you ask. The traditional bellwether of a recession, gross domestic product (GDP), says it’s not. After all, GDP grew by 2.8% in the 2nd quarter of 2024, a marked improvement over Q1. But 60% of Americans emphatically say “yes” — the current […]
Public companies expect third-party audits to be thorough and accurate. Many aren’t getting the results they expect. The Public Company Accounting Oversight Board (PCAOB) is back with its annual report on broker and dealer (B&D) audits. The board reviewed compliance reports and exemption reports for 60 randomly selected auditing firms in 2023 (in previous years, […]
The list of fraudulent brokerages, securities firms and even financial regulators just keeps getting longer. Hundreds, potentially thousands, of scam artists are on the prowl, looking to pick the pockets of investors who don’t double check a company’s on the up and up. The U.S. Securities and Exchange Commission (SEC) announced the names of scammers […]
The Small Business Administration (SBA) is launching a line of credit program that gives small businesses up-front access to capital and more room to borrow. Biz owners can use all the help they can get as more banks are tightening credit limits this year. The 7(a) Working Capital Pilot (WCP) is a flexible line of […]
Back in 2013, the Securities & Exchange Commission (SEC) accused hedge fund manager George Jarkesy of defrauding two investors. Unlike most folks charged with securities fraud, Jarkesy refused to settle and be done with it. Fast forward 11 years: The Supreme Court (SCOTUS) will soon rule on whether someone charged with a crime by a […]
Let’s be real: The enthusiasm behind real-time (or instant) payments stems almost entirely from the seller’s side of B2B. After all, whether we’re talking about a mom-and-pop vendor or a multinational corporation, who doesn’t prefer getting paid sooner rather than later? And in the business-to-consumer realm, the majority of consumers like real-time too. The selling […]
The Federal Reserve refuses to lower its bench-line interest rate until inflation cools down. Basic economic theory says that keeping rates high in an inflationary period helps to bring prices down though it can take time. Does that theory hold up when the Fed — at the behest of Congress and the White House — […]
Did you hear about the office building in New York City purchased for $1 a few weeks back? Or the tower in Los Angeles that sold for HALF the amount it fetched just six years ago? Times are tough in the commercial real estate (CRE) industry – and signs of sunnier days on the horizon […]
