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SEC Alert! Commissioner Hester M. Peirce on Proposed rule 206(4)-11: I cannot support repackaging existing fiduciary obligations into a new set of prescriptions for investment advisers.

Source Thank you Chair Gensler. Investment advisers are fiduciaries to their clients, so why are we giving them step-by-step instructions on how to do their jobs? If we think Congress got it wrong—that investment advisers cannot, absent regulatory handholding, serve their clients faithfully—then we should tell Congress. The

SEC Alert! The SEC voted today to adopt rule and form amendments to require mutual funds and exchange-traded funds to transmit concise and visually engaging shareholder reports...

SEC Alert! The SEC voted today to adopt rule and form amendments to require mutual funds and exchange-traded funds to transmit concise and visually engaging shareholder reports and to promote transparent and balanced presentations of fees and expenses in investment company advertisements. Source The Securities and Exchange Commission voted today

SEC Alert! Commissioner Hester M. Peirce: What we are doing today—implementing the statutory clawbacks mandate—is commendable. But how we are doing it—expansively, inflexibly, and impractically—is not. Accordingly, I cannot vote to adopt this rule.

Source What we are doing today—implementing the statutory clawbacks mandate—is commendable. But how we are doing it—expansively, inflexibly, and impractically—is not. Accordingly, I cannot vote to adopt this rule. Section 954 of the Dodd-Frank Act generally requires the Commission to direct exchanges to require listed companies

Sales of new single‐family houses in September 2022 were at a seasonally adjusted annual rate of 603,000. This is 10.9 percent below the revised August rate of 677,000 and is 17.6 percent below the September 2021 estimate of 732,000.

Source New Home Sales Sales of new single‐family houses in September 2022 were at a seasonally adjusted annual rate of 603,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 10.9 percent below the

SEC Alert! SEC today adopted rules to require securities exchanges to adopt listing standards that require issuers to develop and implement a policy providing for the recovery of erroneously awarded incentive-based compensation

SEC Alert! SEC today adopted rules to require securities exchanges to adopt listing standards that require issuers to develop and implement a policy providing for the recovery of erroneously awarded incentive-based compensation received by current or former executive officers. Source: https://www.sec.gov/news/press-release/2022-192 Fact Sheet: https:

CFPB Issues Guidance to Help Banks Avoid Charging Illegal Junk Fees on Deposit Accounts. Banks continue to rely heavily on overdraft and non-sufficient funds (NSF) revenue, which reached an estimated $15.47 billion in 2019.

Source: https://www.consumerfinance.gov/about-us/newsroom/cfpb-issues-guidance-to-help-banks-avoid-charging-illegal-junk-fees-on-deposit-accounts/ Today, the Consumer Financial Protection Bureau (CFPB) issued guidance about two junk fee practices that are likely unfair and unlawful under existing law. The first, surprise overdraft fees, includes overdraft fees charged when consumers had enough money in their account to cover

The Consumer Confidence Index decreased in October. "Consumers’ expectations regarding the short-term outlook remained dismal. The Expectations Index is still lingering below a reading of 80—a level associated with recession'

Understanding Consumer Confidence Index (CCI) The CCI is released on the last Tuesday of every month, and it is widely regarded as the most credible gauge of U.S. consumer confidence. Essentially, it is a barometer of the health of the U.S. economy and is based on consumers'