Mary Barra continues to make all the right moves. Disclosure: happy shareholder. Here’s one of GM’s spots for the big game this Sunday. I’m taking the Chiefs btw. [embedded content]
Archives for February 2021
Justice Department drops suit accusing Yale of discriminating against White and Asian applicants, in reversal from Trump era
The Department of Justice on Wednesday dropped a case against Yale University in which it alleged that the Ivy League institution was discriminating against White and Asian applicants in its admissions process. The decision, announced in a filing in federal district court in Connecticut, marks a reversal from the Justice Department’s stance under President Donald […]
Atria to buy a $4B firm using growth capital
A wealth management holding company with a different approach than most private equity-backed acquirers is buying its sixth independent broker-dealer. Atria Wealth Solutions agreed to acquire SCF Securities, a Fresno, California-based IBD with 150 registered representatives and $4 billion in assets under administration, the firms announced Jan. 27. The parties didn’t disclose the financial terms […]
Connected Accounting Startup Lockstep Closes $10M Series A – KHQ Right Now
SEATTLE, Feb. 3, 2021 /PRNewswire/ — Lockstep, the world’s first connected accounting cloud, today announced the close of a $10 million Series A funding round led by Point72 Ventures with participation from Clocktower Ventures and Revel Partners. Founded in 2019, Lockstep helps more than 180 customers process over 800 thousand invoices per month with almost 4 million entities. […]
How David Beats Goliath in Real Life
On Wall Street, David doesn’t beat Goliath in real life – especially in a battle of brute force and liquidity. The hedge fund industry manages $3 trillion. Private equity and real estate and venture money is even bigger than that. Funds are backed by banks and brokerages which are backed by the Federal Reserve. Get […]
Advertising With Testimonials And Endorsements Under The New SEC Marketing Rule
Executive Summary The Registered Investment Adviser was established by the Investment Advisers Act of 1940, with an explicitly stated intention of separating “bona fide investment counselors” from the “unscrupulous tipsters and touts” trying to just sell the next hot investment scheme. Accordingly, from its very start, a key pillar in the regulation of investment advisers […]
25% fall in traditional retirement clients – study
A new study suggests that the traditional retirement client base many financial advisers rely on has shrunk by 25% over the past 10 years and may continue to decline. The report by Canada Life, ‘Financially Mature and Stress Free’ suggests that the traditional ‘comfortably retired’ retirement planning client base many advisers target may be in […]
IRS requires corrected information returns for certain SBA loans
The IRS instructed lenders that have erroneously filed or furnished Forms 1099-MISC, Miscellaneous Income, reporting certain payments on U.S. Small Business Administration (SBA) subsidized loans as income of the borrower, to file and furnish corrected Forms 1099-MISC that exclude these subsidized loan payments (Announcement 2021-2). Under the Coronavirus Aid, Relief, and Economic Security (CARES) Act, […]
Filing Taxes for Small Business With No Income: To File, or Not to File
So, you started a business, then let it sit for a little bit, hmm? If you didn’t earn income for an entire year, you might be wondering if you have to file your tax return. So, how does filing taxes for small business with no income work? To file, or not to file? That is […]
Amazon will pay $61.7 million to settle claims it withheld tips from delivery workers
Contractors working for the Amazon Inc. Flex program load packages into vehicles to deliver to customers in San Francisco. David Paul Morris | Bloomberg | Getty Images Amazon will pay $61.7 million to settle allegations by the Federal Trade Commission that it failed to pay Flex delivery drivers the full amount of tips received from […]