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Does Citizens United ruling spell the end for pay-to-play laws? Attorneys disagree
The recent Supreme Court decision makes pay-to-play regulations unconstitutional — or at least, that's the take of one securities attorney. Others don't see it that way.
SEC appeals case against former Amex chief
The Securities and Exchange Commission is appealing a ruling that prevents it from sanctioning former officials of self-regulatory organizations.
Obama’s bank reform slammed by The Financial Services Roundtable, SIFMA
As part of his plan to limit the size of banks, President Barack Obama today proposed prohibiting financial institutions that own banks from investing in or advising hedge funds or private-equity funds.
A uniform fiduciary standard a good bet, one way or another
While brokers who provide advice will likely be held to a fiduciary standard this year, a battle is raging on Capitol Hill over what that standard would look like and how it would work.
Morgan Keegan scores an arbitration win over bond fund blowups
After a string of high-profile securities arbitration losses, Morgan Keegan & Co. Inc. emerged as a winner in an $8.2 million investor complaint that alleged unsuitability and breach of fiduciary duty related to firm's bond funds.
Ex-NBA star wins $1.45M arbitration claim against Morgan Keegan
Morgan Keegan & Co Inc. has lost another arbitration case stemming from a blow up of its bond funds to a former professional athlete, this time liable to a former NBA all-star for $1.45 million in damages.
Bernanke voices economic concerns as he’s sworn in
Federal Reserve Chairman Ben Bernanke expressed concerns Wednesday about the economic recovery during a ceremonial swearing-in for another four-year term.
Finra looks to fill holes in BrokerCheck net
Rogue brokers will find it harder to hide their disciplinary records if the Financial Industry Regulatory Authority Inc. has its way.
Finra on social media: Don’t mix business and pleasure
Registered representatives should be careful about mixing personal use of social-networking sites with business use, a Finra executive said today.
Judge Rakoff: IRS letter about payment to NASD members will remain sealed
A federal judge yesterday declined to unseal a March 2007 IRS opinion letter that laid out guidelines for the payment the NASD made to member firms following the 2007 merger with the NYSE.
Bank bosses get pay boost on the sly
Hoping to mute public outrage over huge Wall Street bonuses, the big banks are making a show of…
Envision CEO accused of bilking investors
An Omaha investment adviser has been indicted on federal charges accusing him of defrauding investors of more than $500,000, federal prosecutors said Friday.
Jailed Ponzi defendant used Morse code to dictate hit letter, prosecutors say
Prosecutors say a Utah man tried to hire a hit man to kill witnesses in a fraud case against him by dictating a letter from jail by Morse code.
Citi, Wells looking to cash out taxpayers: sources
Citigroup Inc. and Wells Fargo & Co. are seeking to repay billions in federal bailout aid but so far haven't received permission from the government, people familiar with the talks told The Associated Press.
Watchdog slams Finra’s ‘abysmal’ record
A good-government group is asking Congress to rethink the concept of self-regulation.
Time for compromise on Capitol Hill
The Senate this week begins debate on its version of a financial-reform bill.
Wash. State floats ‘shocking’ changes to estate tax
A bill has been introduced in the Washington state legislature that would double estate taxes for residents.
Tax break for the bamboozled? State eyes Ponzi loss carryback
An Idaho senator says people who have lost money in fraudulent investment schemes should be able to write off more of their state income taxes.
Investment adviser pleads guilty in $100M fraud case
A fund manager accused of cheating investors of more than $100 million has pleaded guilty to fraud charges, admitting he lied to hundreds of investors about the health of his business.
