The industry group will also focus on digital asset regulation, according to president and chief executive officer Ken Bentsen.

Finra arbitrators denied a request for sanctions against the wirehouse. They also rejected Morgan Stanley’s request for expungement of the matter from the records of a financial advisor who wasn’t named as a defendant in the claim.

Meanwhile, a bipartisan effort is under way to push forward crypto regulation before year's end in the wake of the FTX collapse.

BlackRock invested some $24 million in the cryptocurrency exchange, Larry Fink said, adding that he still believes in crypto’s underlying technology.

The industry’s self-regulator says firms must address how they deal with red flags, such as inexperienced new investors applying for options trading.

Secure 2.0 is still being hashed out, but it’s likely to include provisions that increase the number of plan sponsors that use auto enrollment. This would send more assets to target-date products.

The suit alleged that Black advisors were subjected to “unchecked race-based bias” resulting in disparate pay and fewer promotion opportunities than their white colleagues.

Former regulator staff, banks and trade groups say there’s a lack of clarity from regulators on how traditional financial institutions should engage with digital assets.

As the SEC flexes more enforcement muscle, industry participants have increased spending on compliance, according to a recent survey.

The Public Investors Advocate Bar Association contends that a proposal to classify home offices as non-branch locations “leaves considerable opportunity for advisors working from home to skirt the rules.”