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Articles by Mark Schoeff
National Press Club celebrates journalism’s power
Posted Friday, August 28, 2026 10:49 am The National Press Club works every day to advance press freedom. We do this not because journalists are more special than others, but because press freedom ensures that all Americans have the free and unfettered flow of information that helps them make decisions, hold leaders accountable, and participate fully in civic life.” What a year it has been for The Washington Post’s Narrative Enterprise Reporter Hannah Natanson.
Crypto bill in limbo as stakeholders ramp up recess efforts
WASHINGTON - A five-week wait on a crucial Senate vote on major cryptocurrency legislation has opened wide a window of opportunity for both advocates and opponents of the measure, which would flesh out in greater detail a regulatory framework for the still-nascent industry's U.S. operations. Just before the Senate adjourned for its summer recess earlier this month, Senate Majority Leader John Thune, R-S.D., punted to Sept.
Revised GOP crypto package doesn't assuage Democrats' concerns
WASHINGTON - Senate Republicans released a revised cryptocurrency regulatory framework bill on Wednesday with an added section intended to address public officials' potential crypto conflicts of interest. But more work remains to be done before the measure can get to the floor. Democratic negotiators, incensed at President Donald Trump's wealth being turbocharged by income from his family's crypto ventures, continued to hold back their support, at least without further tweaks.
Trump: Definitely not signing bipartisan housing bill
WASHINGTON - President Donald Trump on Friday put to rest any lingering hopes he would sign into law major housing legislation Congress recently cleared with overwhelming bipartisan majorities. The legislation, which is designed to increase the supply and lower the costs of housing, would become law at midnight Friday if Trump doesn't veto the measure. The Constitution says bills become law after 10 days, excluding Sundays, without a presidential signature - unless the bill is vetoed.
Trump ethics disclosure throws curveball at Senate crypto talks
WASHINGTON - The newly disclosed scale of President Donald Trump's personal cryptocurrency-related profits since taking office last year comes right at a sensitive moment for Senate negotiations on a major digital assets bill that GOP leaders want to bring to the floor this month. Trump's potential crypto conflicts have been a sticking point in negotiations over a crypto market structure bill that is pending in the Senate.
Housing bill sent to Trump, starting countdown to enactment
Speaker Mike Johnson, R-La., on Monday formally transmitted to the White House the bipartisan housing package that President Donald Trump refused to sign last week. That triggers a 10-day clock, excluding Sundays, for Trump to either sign or veto the bill; if he does neither, it will become law without his signature by July 10. The House cleared the bill on Tuesday after Senate passage a day earlier, both with veto-proof majorities.
Housing bill cleared for Trump's signature after winding journey
WASHINGTON - Comprehensive housing legislation won overwhelming bipartisan support in the House on Tuesday, as lawmakers sent President Donald Trump a package both parties hope will help lower costs for what the Bureau of Labor Statistics says is the single largest expense U.S. households face. The House voted 358-32 to clear the bill under suspension of the rules, which requires two-thirds of members present and voting for passage.
Bipartisan housing package OK'd in Senate; House up next
WASHINGTON - A sweeping housing bill sailed through the Senate on Monday and is expected to move quickly in the House early this week, potentially giving both parties a win on the issue of lowering home costs. The Senate passed the bill with overwhelming bipartisan support, 85-5. An aide to Speaker Mike Johnson, R-La., said the House could act on the legislation as soon as Tuesday under suspension of the rules, which requires backing from two-thirds of members present and voting for approval.
House passes housing bill still at odds with Senate version
WASHINGTON - The House voted 396-13 to pass housing legislation Wednesday after two key senators said the House bill would need work to pass the Senate. The House vote on the measure was procedurally to adopt a resolution concurring in a Senate amendment, a move that effectively swapped in House text to the bill passed by the Senate. The vote under suspension of the rules required support from two-thirds of members present and voting.
Senate Banking approves crypto market structure bill
WASHINGTON - The Senate Banking Committee voted Thursday to approve, mostly along party lines, legislation that would set the rules for the operation and oversight of digital asset markets, advancing a landmark bill the panel has been working on since last summer. Months of negotiations between Republicans and Democrats resulted in only two Democrats - Sens. Ruben Gallego of Arizona and Angela Alsobrooks of Maryland - joining all Republicans in a 15-9 vote.
HUD to try again to change homelessness assistance program
WASHINGTON - The Trump administration will renew its effort to change the approach to the nation's largest homelessness assistance program with a request for funding that will be released next month. The Department of Housing and Urban Development said it will publish the 2026 Continuum of Care Notice of Funding Opportunity by June 1. The CoC provides grants to states, local governments and nonprofit organizations that sponsor programs to reduce homelessness.
DOJ drops investigation into Fed's Powell
WASHINGTON - U.S. Attorney Jeanine Pirro said Friday that she is dropping her investigation into Federal Reserve Chair Jerome Powell over the cost for renovations at the central bank, a move that could clear a path for the Senate to confirm Kevin Warsh as Powell's replacement. "I have directed my office to close our investigation as the IG undertakes this inquiry," Pirro said in a post on social media platform X.
Warsh vows Fed independence; Democrats assert financial conflicts
WASHINGTON - Kevin Warsh, the nominee to be next chairman of the Federal Reserve, promised senators Tuesday that the central bank would maintain its independence from the White House under his leadership and that he would divest assets that raised conflict-of-interest concerns among Democrats. Warsh tried to reassure lawmakers at the Senate Banking Committee confirmation hearing that he would stay at arm's length from President Donald Trump.
Fed chair nominee Warsh to field questions about central bank's independence
WASHINGTON - Republicans and Democrats on the Senate Banking Committee appear poised to question Kevin Warsh, the nominee to be the next chairman of the Federal Reserve, on the central bank's independence - but from different angles - during a hearing scheduled for Tuesday. Ranking member Elizabeth Warren is also expected to question Warsh's financial disclosures and ties to the late sex offender and financier Jeffrey Epstein.
CFTC bucks trend, seeks more money from Congress and proposes fees
WASHINGTON - In a time of budget austerity for most Trump administration agencies, the Commodity Futures Trading Commission stands apart as a regulator that is asking Congress for more money. The CFTC is requesting $410 million for fiscal 2027, an increase of $45 million, or 12%, from its enacted fiscal 2026 level. The agency also wants to add 14 full-time staff for a total of 650 full-time equivalents.
Advocates Push for Retirement Savings Fixes During Lame Duck
CQ Roll Call Financial industry advocates are urging Congress to address unresolved issues in a law that expanded retirement plan eligibility, passed with bipartisan support in December 2022. Erin Koeppel, Managing Director of Government Relations and Public Policy Counsel at CFP Board, emphasizes that finding a suitable legislative vehicle in the upcoming lame-duck session is crucial for implementing the technical corrections needed to improve the law's impact on retirement plans.
FTC pushes forward with sweeping non-compete ban
Insurance News By Apr 23, 2024 Share The Federal Trade Commission (FTC) has voted 3-2 to ban non-compete agreements, in a move expected to have ramifications for tens of millions of Americans. Under the non-compete ban, employers will be restricted from using future non-competes. Existing agreements, except for those that apply to senior executives, will be voided. The rule is expected to go into effect in 120 days. Democratic FTC commissioners voted for the ban, while Republicans were against.
SEC ups enforcement actions, imposes second-highest penalties
News Regulation And Legislation The SEC took the most enforcement actions for violations of securities laws in four years during its latest fiscal year and ordered the second-highest amount of money related to those actions in history, the agency announced Tuesday. The Securities and Exchange Commission filed 784 enforcement ac Subscribe or log in to read the rest of this content. Learn more about reprints and licensing for this article.
Legislation Affecting Advisors Takes the Long and Winding Road Through Congress
The Establishing New Authorities for Business Laundering and Enabling Risks to Security Act would expand the definition of a financial institution to include investment advisors. It would require advisors to establish anti-money laundering and due diligence programs, report suspicious transactions and identify and verify account holders.
Managing and Communicating With Different Generations
One of the major challenging contributors to managing a workforce is the multigenerational difference that sets employees apart. Although this provides a great sense of variety and knowledge in various areas of business, this gap can also cause miscommunication within an organization. It is important to reflect on the fact that each generation has a different set of needs and preferences that might not be able to be met the same way.
SEC Enforcement Will Help Ensure Reg BI Delivers on Investor Protection: Grewal
U.S. Securities and Exchange Commission (SEC) Enforcement Director Gurbir Grewal told U.S. lawmakers that his division will help ensure Regulation Best Interest (Reg BI) delivers on its investor protection promises. In an appearance before the House Financial Services Subcommittee on Investor Protection, Entrepreneurship and Capital Markets, Grewal indicated that the SEC's first Reg BI enforcement action last month will not be its last.
FINRA Wants To Start Identifying 'Restricted' Firms on BrokerCheck
The Financial Industry Regulatory Authority (FINRA) has proposed disclosing a firm's “restricted” status on BrokerCheck, the public database that lists the regulatory histories of securities firms. The regulator is asking the U.S. Securities and Exchange Commission for approval to begin making the names of restricted firms public in the second cycle of such designations being made.
What is Wealth Management?
Thenewest installmentof the BISA Industry TrendWatch series, produced by BISA in partnership with Stathis-Mittel, is now live! In this episode, our panelists discuss the definition of wealth management, as well as the best practices during market volitility from their professional perspective. Our panelists are Joe Skarda from Keybank and Jeremy Hudson from Ameriprise.
Investors Pour Cash Into Higher-Yielding Fixed Annuities
Second-quarter sales of various types of annuities are projected to top $74 billion, setting a record, according to data from Limra. That would be more than $5 billion above the previous record, which occurred in the volatile fourth quarter of 2008 at the peak of the financial crisis. One of the appeals of fixed-rate annuities is that they don’t lose value the way bond funds have in recent months as interest rates rose, said Todd Giesing, Limra’s head of annuity research.
Americans’ Finances Still Uneven, but Many Fare Better, FINRA Finds
While U.S. adults generally did better financially in 2021 than in the decade leading up to the pandemic, their financial well-being remains uneven across different demographic groups, a study by the Financial Industry Regulatory Authority's Investor Education Foundation has found. The study found that 53 percent of respondents reported having three months of emergency savings in 2021, compared to 49 percent in 2018 and 35 percent in 2009.
Wall Street Texting Habit Sticks Banks with Rare $1 Billion Bill
Regulators are poised to extract about $1 billion in fines from the five biggest U.S. investment banks over failures to monitor employees using unauthorized messaging apps. Morgan Stanley disclosed on Thursday that it expects to pay a $200 million fine, the same amount JPMorgan Chase paid as authorities use that settlement as a yardstick for the industry.
SEC Weighs Waiving Some Rules to Regulate Crypto, Gensler Says
The U.S. Securities and Exchange Commission may use its authority to exempt crypto companies from certain securities laws to help the industry come into compliance, Chair Gary Gensler said in an interview. “We do have robust authorities from Congress to use our exemptive authorities that we can tailor” for disclosure and investor protection. The comments are among Gensler’s most pointed yet on how the agency might work with the digital asset community.
Advisors Must Weigh Whether to Be First to Use Testimonials for Marketing
Investment advisory firms will soon have to decide whether they want to be on the cutting edge of using testimonials to market themselves. In early November, the U.S. Securities and Exchange Commission will implement a regulation that overhauls advisor advertising rules that have been in place for more than 60 years. Advisors will be able to use testimonials, endorsements and third-party ratings for the first time as long as they comply with anti-fraud protections and other conditions.
Gensler: SEC Working on Bulletins to Illuminate Aspects of Reg BI
The U.S. Securities and Exchange Commission is drafting more guidance to help financial advisors better understand Regulation Best Interest and to ensure it delivers on its investor protection promises, Chair Gary Gensler said in an interview. “Staff is also going to take up, I’d anticipate, three other areas that are at the core of the regulations,” Gensler said.
SEC Returns to Full Strength, Not Yet Full Speed
Regulatory Outlook | 06.17.22 SEC Returns to Full Strength, Not Yet Full Speed by: Mark Schoeff Two new commissioners are set to join the U.S. Securities and Exchange Commission (SEC), following their confirmation by the U.S. Senate. The Senate approved by voice vote Jaime Lizárraga, who was nominated to fill the seat of departing Democratic Commissioner Allison Herren Lee, and Mark Uyeda, who was nominated to fill the seat that was vacated by former Republican Commissioner Elad Roisman.
Horse Race: Washington hikes intensity of 1st CD race
By MARK SCHOEFF, JR. WASHINGTON — For the first time in nearly 100 years, there’s a chance a Republican could win the congressional seat in Northwest Indiana, and Washington is taking notice. This week, the campaign arms of House Democrats and Republicans waded into the 1st CD race between incumbent Democratic Rep. Frank Mrvan and Republican challenger Jennifer-Ruth Green.
Consumer Groups Call for SEC Probe of RIAs' Use of Mandatory Arbitration
A coalition of consumer and investor advocacy groups is urging the U.S. Securities and Exchange Commission (SEC) to probe the use of mandatory arbitration among registered investment advisors (RIAs), out of concern "that RIAs are not adequately disclosing their use of pre-dispute arbitration clauses and may be disadvantaging investors by designating expensive forums and otherwise limiting investors' rights to pursue their claims." They said unregulated use of such clauses "has created...
Trade Associations Raise Concerns About SEC’s Cybersecurity Proposal
Regulatory Outlook | 04.11.22 by: Mark Schoeff, Jr. Trade associations in the investment advice sector are voicing concerns about the reporting mandates of a proposed U.S. Securities and Exchange Commission (SEC) cybersecurity rule for registered investment advisors and companies. The SEC would for the first time require that advisors adopt written policies and procedures that address risks related to cyberattacks. Comment letters were due to the SEC on Monday.
Supreme Court Ruling Could Add Uncertainty in FINRA Arbitration
Regulatory Outlook | 04.04.22 by: Mark Schoeff, Jr. Last week's Supreme Court ruling could create more uncertainty about arbitration awards from the Financial Industry Regulatory Authority. The high court ruled that federal arbitration laws allowing federal courts to "look through" a dispute's underlying issues are inapplicable to petitions by arbitration participants to confirm or vacate arbitration awards.
ESG, Reg BI Top SEC’s Examination Priorities
Regulatory Outlook | 03.30.22 by: Mark Schoeff, Jr. The U.S. Securities and Exchange Commission will focus on how financial advisors use environmental, social and governance (ESG) investment strategies and how they are complying with Regulation Best Interest in its examinations this year.
House Approves SECURE 2.0 With Strong Bipartisan Vote
Regulatory Outlook | 03.29.22 by: Mark Schoeff, Jr. The U.S. House of Representatives on Tuesday approved with strong bipartisan support the Securing a Strong Retirement Act of 2021, or SECURE 2.0, sending it to the Senate, where several retirement-savings bills are under consideration or about to be introduced.
FINRA Board Approves Remote-Inspection Proposals, Sends Them to SEC
Regulatory Outlook | 03.16.22 by: Mark Schoeff, Jr. The FINRA board has passed regulatory proposals that could allow brokerages to perform remote inspections of branch offices past December and submitted them to the SEC. The agency did not disclose any further details, which will be publicized when FINRA files them with the SEC.
DOL Warns 401(k) Plan Fiduciaries Against Offering Crypto Investments
Regulatory Outlook | 03.10.22 by: Mark Schoeff, Jr. Retirement plan advisors should "exercise extreme care” before making cryptocurrency an investment option in a 401(k) plan, the Department of Labor (DOL) warned Thursday, vowing to investigate those who do. The DOL has noticed over the last few months that financial services firms are marketing cryptocurrency investments to 401(k) sponsors as investments for plan participants, the agency said in a compliance release.
SEC Promises Not to Play "Gotcha" in Early Days of New Marketing Rule
Regulatory Outlook | 03.07.22 by: Mark Schoeff, Jr. An SEC official said the regulator will not surprise investment advisors with immediate enforcement of a new rule stipulating marketing protocols that goes into effect on November 4. The rule would permit advisory firms to use testimonials, endorsements and third-party ratings for the first time, provided they comply with anti-fraud protections and other regulations.
SEC Examines 16% of RIAs, and It's Not Likely to Go Higher
Regulatory Outlook | 03.04.22 by: Mark Schoeff, Jr. SEC official Daniel Kahl said the regulator examined only 16% of roughly 15,000 registered investment advisors (RIAs) last year, and it might have difficulty reaching that goal in the future. He added that the number of examiners has not materially gained in years despite the RIA population's rapid expansion.
SEC's Crenshaw Assures Advisors Agency Doesn't Seek to Punish Cyberattack Victims
Regulatory Outlook | 03.03.22 by: Mark Schoeff, Jr. SEC Commissioner Caroline Crenshaw attempted to reassure investment advisors that they will not be penalized for suffering cyberattacks in a Q&A with at a recent conference. Advisory firms that follow best practices, supply timely disclosure and work with law enforcement are unlikely to have an enforcement action imposed on them just for being a victim of a cyberattack, Crenshaw said.
FINRA Finds Brokerages Fall Short on Reg BI Compliance
Regulatory Outlook | 02.09.22 by: Mark Schoeff, Jr. FINRA outlined shortcomings it found during Regulation Best Interest (Reg BI) compliance reviews in a report on its examination and risk monitoring program released Wednesday.
Smaller Firms May Not Be Ready for DOL Fiduciary Rule Now in Force
Regulatory Outlook | 02.02.22 by: Mark Schoeff, Jr. The U.S. Department of Labor has begun enforcing an investment advice regulation for retirement accounts that was approved by the agency late in the Trump administration. Some smaller firms are not fully aware of the new requirements and could have inadvertently missed the Feb. 1 deadline, said Fred Reish, partner at Faegre Drinker Biddle & Reath. There’s also the risk that their policies and procedures won’t withstand regulatory scrutiny.
SEC Officials Urge Firms to Update Compliance to Cope With Emerging Technologies
Regulatory Outlook | 01.26.22 by: Mark Schoeff, Jr. The SEC said that financial firms must ensure their compliance programs keep pace with emerging technologies. The commission recently ordered JPMorgan to pay $125 million for failing to keep track of employee communications about business on their personal devices through text messaging applications.
FINRA Focuses on Sales of Complex Products, Crypto
Regulatory Outlook | 01.19.22 by: Mark Schoeff, Jr. FINRA's 2022 priorities include bolstering rules surrounding sales of complex products and enhancing safeguards related to purchasing cryptocurrencies and digital assets from brokerages, CEO Robert W. Cook said Wednesday.
EBSA Nominee Gomez Again Advances to Senate Floor
Regulatory Outlook | 01.13.22 by: Mark Schoeff, Jr. The U.S. Senate Committee on Health, Education, Labor and Pension on Thursday once again advanced to the full Senate floor the nomination of Lisa Gomez to head the U.S. Department of Labor (DOL) Employee Benefits Security Administration.
Lawmakers, Trade Groups Seek More Time to Comment on SEC Proposals
Regulatory Outlook | 01.11.22 by: Mark Schoeff, Jr. Public comment about SEC rule proposals is being rushed, according to some. In a letter Monday to SEC Chair Gary Gensler, U.S. Representative Patrick McHenry (R-NC), ranking member of the House Financial Services Committee, and Senator Patrick Toomey (R-PA), ranking member of the Senate Banking Committee, said the agency has “consistently provided unreasonably short comment periods” since Gensler began his term last April.
FINRA Seeks to Extend Remote Branch Office Inspections Through End of Year
Regulatory Outlook | 01.11.22 by: Mark Schoeff, Jr. FINRA wants to permit brokerages to remotely inspect branch offices through the end of the year. It has filed a proposal with the SEC to again extend the remote-inspection rule instituted in response to the pandemic by six months. Read the full article on InvestmentNews
Expect a Flurry of New ESG Rules
Regulatory Outlook | 01.10.22 by: Mark Schoeff, Jr. The SEC and DOL are poised to advance several rulemakings this spring related to environmental, social and governance (ESG) investing. The agencies are expected to move over the next few months to contribute to the Biden administration’s focus on addressing climate change. Read the full article on InvestmentNews
ESG investing is about to get a lot easier
Federal regulators are poised to facilitate sustainable investing in 2022 despite political opposition. They’re also likely to step up scrutiny of how financial advisers market and execute environmental, social and governance investment strategies. Both the Department of Labor and the Securities and Exchange Commission are working on proposals whose thrust is to encourage the use of ESG factors, an abrupt reversal of Trump administration policy.
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