Displaying 10262 results
Prosecutors flag L.A. man in alleged Nascar Ponzi scheme
A Los Angeles man has pleaded not guilty to running a Ponzi scheme that cheated about 50 investors in a NASCAR merchandise wholesale business out of at least $10 million.
Next hot job? Compliance officer at financial firm
People who knew how to make a quick buck held some of the fastest-growing jobs two years ago. Now, the growth industry is in helping financial firms figure out how to follow the rules.
Finra arbitration cases soar
New arbitrations filed with Finra surged in 2009 to 7,137 cases, up from 4,982 cases in 2008, according to statistics recently released by Finra. That's a 43% gain.
Scott Brown victory in Massachusetts could delay – even derail – financial reforms
The upset election of Scott Brown to the U.S. Senate seat from Massachusetts will have a more modest impact on financial services regulatory-reform legislation than on health care reform. But the stunning result in Massachusetts will give Republican members of the Senate Banking Committee a stronger hand in shaping financial reform.
Former rep wins $4 million in defamation case
A former SunTrust Robinson Humphrey broker has won $4 million in a defamation claim against the firm.
Finra to probe Thomas Weisel over brokers’ $15.7M in auction-rate sales
Thomas Weisel Partners Group Inc., the San Francisco-based investment bank, faces a regulatory probe over the sale of $15.7 million in auction-rate securities as the market neared collapse.
List of failed banks gets longer
The FDIC seized another four banks late last week, bringing the year's tally to 41. And there's plenty more where that came from
Treasury, Labor Dept. seek info on using annuities in 401(k)s
The Department of Labor and the Treasury Department have put out a request for information on the use of annuities in defined-contribution plans.
Caterpillar settlement could make 401(k) advisers vulnerable to fee suits
Caterpillar Inc.'s announcement that it has reached a tentative settlement over the fees it charged its 401(k) plan participants may be bad news for plan sponsors, their advisers and mutual fund companies.
Employees name investment adviser in 401(k) suit
New targets have surfaced for lawsuits over 401(k) fees: small retirement plans, their investment advisers and service providers.
Dodd exit opens door for WWE’s McMahon, other Republicans
Connecticut Sen. Christopher Dodd, a five-term Democrat whose political stock began falling after the financial meltdown and his failed 2008 presidential bid, has decided not to seek re-election in November, Democratic officials told The Associated Press early Wednesday.
Sparks fly over ‘hat-switching’ provision
A one-sentence provision buried in the sweeping financial services reform legislation passed by the House this month has once again pitted investment adviser groups against brokerage groups.
SEC’s Schapiro: One fiduciary standard needed for all securities professionals
Securities and Exchange Commission Chairman Mary Schapiro today called for subjecting all securities professionals to the same standards of conduct and licensing requirements.
Insurance agents to Dodd: Don’t force us to take on RIA role
Life insurance agents' advocacy groups teamed up this month to ask Senate Banking Committee Chairman Christopher Dodd, D-Conn., to reconsider a legislative provision that would require life agents to become registered investment advisers.
Finally, hope for advisers who want to tweet – but not delete
Many advisers feel stymied when it comes to adopting social media. But for independent registered investment advisers whose main hurdle has been lack of a low-cost archiving, help is on its way.
Dodd’s financial reform bill would eliminate the ‘broker-dealer exemption’
Brokers who provide investment advice would no longer be exempt from registering as investment advisers under draft legislation unveiled today by Senate Banking Committee Chairman Christopher Dodd, D-Conn.
Investors to Fed: No surprises, please
The Federal Reserve meets on Tuesday. Stock pickers assume the overnight rate will still be the same on Wednesday.
Fighting Finra’s grab for advisers
The most important issue that Congress needs to get right in overhauling financial services regulation is reform of the over-the-counter-derivatives market, investor advocate Barbara Roper believes.
House set to vote on financial reform package
House lawmakers are ready to clear a significant hurdle in their drive to slap new financial restraints on big Wall Street institutions and to demand greater openness from the nation's central bank.
Woodbury Financial fined for Reg S-P violations
The SEC has fined independent broker-dealer Woodbury Financial Services Inc. of Woodbury, Minn., $65,000 for a variety of violations of Regulation S-P, which prohibits disclosure of non-public personal information about clients to non-affiliated third parties, such as other broker-dealers.
