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☆ U.S. SEC issues guidance on broker and adviser 'care obligations'
▼ + stars: | 2023-04-20 | by ( John Mccrank | ) www.reuters.com time to read: +2 min

The guidance, which is the third in a series of such documents, specifically clarifies brokers' and advisers' so-called "care obligations" under the SEC's long-standing investment adviser fiduciary standard and its Regulation Best Interest rule (Reg BI), passed in 2019. Reg BI is a package of rules requiring brokers to disclose potential conflicts in the fees investors pay and the commissions brokers earn when giving financial advice. The rules also require brokers to raise the standard for giving advice to meet a client's best interest when recommending stocks, mutual funds and other financial products. Consumer groups criticized the Reg BI rule for being too vague in its definition of "best interest" while not addressing all potential conflicts. The guidance under the current Democratic-led SEC, seeks to plug some of these gaps, analysts have said.

☆ Clarence Thomas slammed from across political spectrum, as former House GOP member says he 'should not be allowed anywhere near a judicial decision'
▼ + stars: | 2023-04-06 | by ( Grace Eliza Goodwin | Warren Rojas | ) www.businessinsider.com time to read: +3 min

Former GOP House members are slamming Justice Clarence Thomas over his cozy relationship with a billionaire. One of Thomas' fellow conservatives says he "should not be allowed anywhere near a judicial decision." Because Justice Thomas knew it was wrong to accept these secret gifts." Former GOP Virginia House member Denver Riggleman reacted to ProPublica's report on Twitter, saying "Our country is poisoned from within. Another former Republican House member Adam Kinzinger tweeted "Regardless of your politics, this cannot be acceptable."

☆ Why the George Santos fiasco points to Democrats’ political malpractice
▼ + stars: | 2022-12-20 | by ( Arick Wierson | Arick Wierson Is A Six-Time Emmy Award-Winning Television Producer | A Former Senior Aide To Former New York City Mayor Michael Bloomberg. He Advises Political | ) www.nbcnews.com time to read: +7 min

And in the case of Santos, it appears that Democrats failed to look into not one but an entire range of allegedly dubious claims made by the congressman-elect. Even more astonishing — and indeed puzzling for Democrats — is the fact that this wasn’t Santos’ first rodeo. Moreover, what does all this say about Democrats’ overall political operation not only in New York state but nationwide? It appears that Democrats, at least in this case, have been asleep at the wheel for some time. This Santos case should force some real self-examination on the part of Democrat’s political operations.

☆ Kari Lake Files Lawsuit to Be Declared Winner in Arizona
▼ + stars: | 2022-12-10 | by ( Eliza Collins | ) www.wsj.com time to read: 1 min

Kari Lake is calling for an audit of Arizona’s election results for this year. Kari Lake, the Republican who lost her bid to be Arizona’s governor last month, filed a lawsuit alleging that the results of the midterm elections are false and she should be declared the winner. Katie Hobbs , the current Democratic secretary of state, defeated Ms. Lake by just over 17,000 votes, or less than 1 percentage point. State officials including the Republican governor certified the election results Monday. Ms. Hobbs in her role as secretary of state oversaw certification but had no role in vote counting.

WASHINGTON — New York Rep. Hakeem Jeffries, the fourth-ranking House Democrat, said Friday that he will run to replace House Speaker Nancy Pelosi as the party's leader after Republicans took back control of the chamber in last week’s midterm elections. The ascension of the 52-year-old Jeffries to minority leader would also represent generational change. Clark, 59, announced a bid for Democratic Whip, while Aguilar, 43, is running for Democratic Caucus Chair. Congressional Black Caucus Chair Joyce Beatty, D-Ohio, said Thursday she was confident that the powerful bloc of more than 50 Black lawmakers would line up behind Jeffries. “I’m very comfortable saying I believe that every member of the Congressional Black Caucus would vote for Hakeem Jeffries,” Beatty told reporters Thursday.

☆ How Silicon Valley could be impacted by a Republican-controlled House
▼ + stars: | 2022-11-17 | by ( Brian Fung | ) edition.cnn.com time to read: +8 min

Democrats have hammered away at online platforms’ handling of hate speech and white nationalism, while promoting legislation that could drastically affect the business models of big tech companies. The return of heated tech CEO hearingsIn general, tech companies may face more political noise with a Republican House but potentially less policy risk. With Republicans likely to take control of the House, tech companies could face more hearings, but not necessarily more legislation. Privacy legislationMultiple Congress-watchers told CNN that support for federal privacy legislation is still bipartisan and the area remains one of a handful where lawmakers could make progress in the next Congress. It was approved by a key House committee this year and policy analysts say it could see more opportunities to advance next year.

☆ 'I will never let you down' -Fetterman on projected win in PA
▼ + stars: | 2022-11-09 | by ( Reuters Editorial | ) www.reuters.com time to read: 1 min

Politics'I will never let you down' -Fetterman on projected win in PAPostedJohn Fetterman, the current Democratic Pennsylvania lieutenant governor, reacted early Wednesday morning (Nov 9) to news of a projected win by Edison Research and other news outlets over former brain surgeon and TV host, Republican Mehmet Oz, for Pennsylvania's open U.S. Senate seat.

☆ Democrat Annette Taddeo challenges incumbent Republican Rep. Maria Salazar for Florida's 27th District
▼ + stars: | 2022-11-05 | by ( Kimberly Leonard | ) www.businessinsider.com time to read: +4 min

Republican Rep. Maria Salazar is up for reelection to a second term. Republican incumbent Rep. Maria Salazar is running for a second term in the US House against Florida Sen. Annette Taddeo, a Democrat. Florida's 27th Congressional District candidatesSalazar was elected to the US House in 2020 after a career as a journalist that included both English and Spanish outlets. During the 2020 race, Salazar pilloried Shalala for violating the Stop Trading on Congressional Knowledge Act of 2012 by improperly disclosing personal stock trades. Before Shalala and Salazar faced off twice, Florida's 27th Congressional District was for almost 30 years held by Republican Rep. Ileana Ros-Lehtinen — even though the district leaned Democratic when it came to casting votes for president.

But Silva is getting a second chance to celebrate her quinceañera or 15th birthday in a different, more empowering way. Silva is part of Quince to the Polls, a campaign by Poder Quince geared to mobilize young women to become civic and community leaders. Poder Quince is a program run by Jolt Initiative, a progressive nonprofit organization focused on increasing the civic participation of Latinos, especially young Latinos. “Even though I can’t vote yet," Silva said, "I want to motivate others." Organizers on the ground will be speaking with community members, many of who are first-time voters, said Christine Bolaños, director of communications at Jolt Action, Jolt Initiative's political arm.

Anyone on his team who agreed to a debate should be fired, or never work again, because that debate may have tanked his campaign,” said Chris Kofinis, a veteran Democratic campaign strategist. John Fetterman, the Democratic Senate nominee in Pennsylvania, debates Republican challenger Mehmet Oz on Tuesday. And Fetterman’s campaign, eager to project strength, said Wednesday that it had raised $2 million since the debate ended“There’s always second-guessing,” Sen. Bob Casey, D-Pa., said on MSNBC Wednesday. Fetterman’s debate performance took some Republicans by surprise, too. But another top Pennsylvania Democrat, who believes Fetterman’s debate performance was devastating and requested anonymity to offer candid thoughts on the party’s nominee, fears the race is over.

☆ The stock market will be rocky over the next few months, RBC says, but the bottom could be in very soon. Here are 3 reasons a double-digit recovery could be in store 2023.
▼ + stars: | 2022-10-13 | by ( Marley Jay | ) www.businessinsider.com time to read: +4 min

There's reason to believe the stock market is close to its low point, according to RBC. She points out that when investors get this cautious — with bearish investors outnumbering bullish ones by at least 10% — 12-month forward returns hit 15.5% on average. But stock market downturns and economic downturns don't always happen at the same time. She notes that on average, the S&P 500 has returned 13.6% in years when US GDP is negative. Calvasina writes that on average, the S&P 500 rallies 7% off its lows in a midterm year like this one.

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