by
Jeff Schlegel
The SEC charged Merrill Lynch with misusing customer order information to make its own proprietary trades, the agency said Tuesday.
The SEC is recommending a common fiduciary standard for brokers and registered
investment advisors who provide personalized investment advice.
by
Jeff Schlegel
The SEC's six-month study on financial advisor oversight has reached the following conclusion: let Congress decide on one of three options.
by
Ray Fazzi
The Internal Revenue Service, reversing an earlier position, proposed
rules making it more likely informants will collect a reward when they
blow the whistle on tax-dodgers.
The relationship between retail investors and advisors may
be rewritten after the U.S. Securities and Exchange Commission releases
three studies on the regulation of brokers and advisors.
SIFMA is urging the SEC to
recommend the appointment a self regulatory organization to bolster
oversight of certain RIAs.
A bankruptcy judge approved a $7.2 billion settlement between the trustee overseeing the dissolution of Bernard L. Madoff's firm and the estate of Jeffry Picower.
The receiver for R. Allen Stanford, accused in a massive $7 billion Ponzi scheme, has sued professional golfer David Toms in an effort to have nearly $1 million in profits returned.
The fund industry fleshed out a plan for a private backstop to
money-market funds, rejecting alternatives considered by regulators
that include abolishing the funds' stable $1 net asset value.
by
Ray Fazzi
Non-compete disputes are common, but
advisor Kristian Colvin feels the 14-month legal assault waged upon him by
Charles Schwab & Co. defied reason.
A unit of Ameriprise Financial that is already under fire
from regulators for selling allegedly fraudulent private placements is
now facing the wrath of securities arbitrators.
Wilmington Trust Corp., a TARP recipient, took back about $2 million in pay from its CEO because the compensation broke federal
rules.
There was no
dearth of silliness, sleaziness or shameless egomania among those in
the financial industry or those who regulate it over the past year.
by Joel P. Bruckenstein
This new Web-based platform helps RIAs easily update their regulatory reports.
Lawyers for R. Allen Stanford, the Texas financier accused of a $7
billion Ponzi scheme, asked to delay a trial set to begin Jan. 24 for at
least two years so they can prepare their defense.
hree former UBS AG executives who pleaded guilty or were sentenced in
U.S...
A New Jersey investment firm is accused of using a Ponzi scheme to
defraud investors of more than $40 million and using millions to buy hockey tickets, cars and luxury vacations.
The SEC will be forced to go another 10 weeks without a funding increase, despite having a budget unequipped to handle new responsibilities imposed by the Dodd-Frank Act.
by
Jeff Schlegel
The Financial Services Institute on Monday sent a letter to the SEC
voicing support for FINRA as the self-regulatory organization (SRO) for
investment advisors.
