Monday, January 30, 2023


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R.I. man charged with defrauding investors in Ponzi scheme

PROVIDENCE – David Wagner of East Greenwich and Downing Partners LLC and its subsidiaries have been charged with defrauding investors out of millions of dollars. Separate...
SECRETARY OF THE COMMONWEALTH William F. Galvin said the SEC’s new rules of conduct for securities broker-dealers should be more stringent, like those for investment advisers. / COURTESY MASS. SECRETARY OF THE COMMONWEALTH

Groups, officials weigh in on SEC-proposed standard of conduct for broker-dealers

PROVIDENCE – Numerous groups and officials weighed in last week on the U.S. Securities and Exchange Commission’s Regulation Best Interest proposal that sets a...
THE U..S. SECURITIES AND EXCHANGE COMMISSION has fined Oaktree Capital Management for violating "pay-to-play" rules regarding campaign contributions to Gov. Gina M. Raimondo during her 2014 run for office. Her office said that the contribution was flagged and returned at the time. / PBN FILE PHOTO/MARK S. MURPHY

Money manager for state pension settles SEC complaint for violating ‘pay-to-play’...

PROVIDENCE – Gov. Gina M. Raimondo is cited indirectly in a federal complaint against an investment advisory firm that handled state pension money when...
Beyond the average
A piece of the Dodd-Frank financial reform law required for the first time that companies disclose the ratio of their CEO’s pay to the median salary of its employees, although the employers were allowed to exclude some workers from the calculation. / Sources: Company filings (Some companies excluded non-U.S. employees and others.)

Pay ratio disclosures show wide gaps between CEOs, employees

Out of the 19 public companies that are based in or have significant ­operations within Rhode Island and have filed proxy statements recently, 14...
JAY CLAYTON is chairman of the U.S. Securities and Exchange Commission, which recently proposed to overhaul its conflict of interest rules for brokers. / BLOOMBERG FILE PHOTO/ANDREW HARRER

Trump’s SEC proposes rewrite of Obama-era broker conflict rules

NEW YORK – The U.S. Securities and Exchange Commission on Wednesday proposed overhauling its conflict of interest rules for brokers, a move likely ensuring...
THE DEPARTMENT OF JUSTICE is asking for more information in its review of the CVS Health-Aetna merger proposal, extending the waiting period on the application 30 days. / BLOOMBERG FILE PHOTO /MICHAEL NAGLE

DOJ seeks new info on CVS Health-Aetna merger, extends waiting period...

WOONSOCKET — The U.S. Department of Justice extended the Hart-Scott-Rodino Antitrust Improvements Act waiting period for CVS Health Corp. and Aetna Inc.’s merger review...
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