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Judge Rakoff to rule on NASD suits before yearend
The final fate of two lawsuits arising from the 2007 merger of NASD and the New York Stock Exchange's regulatory unit could be decided in the coming months.
SunGard unveils cost-basis-reporting product that integrates with WealthStation, others
SunGard Data Systems Inc. this week launched its Cost Basis Reporting Engine, which is intended to help financial…
Equity traders worried dark pools could dry up under new regs
Unintended consequences of capital markets regulation or legislation are the biggest fears harbored by equity traders at money management firms, a new report from consulting firm TABB Group says
Federal pay limits create storm at AIG
American International Group Inc. chief executive Robert H. Benmosche's reported threat to quit two weeks ago — and subsequent pledge to continue his work at AIG — sets the stage for a battle over pay curbs while underscoring the enormous challenges AIG still faces, observers say.
Feds want to get their hands on life settlements, observers say
As states propose and pass rules for oversight of life settlement transactions, industry participants wonder just how far the Securities and Exchange Commission will reach into the market to provide uniform guidance on disclosure and broker registration.
SEC backs broader disclosure requirements on executive pay
Federal regulators voted Wednesday to require companies to reveal more information about how they pay their executives amid a public outcry over compensation.
Bill aimed at taming Wall Street could be declawed
Sweeping regulations to tame Wall Street and protect consumers in dealings with lenders are on the verge of passing the House but their fate is hardly sealed.
SEC wilts on surprise adviser audits
The SEC is backpedaling on a proposal that would require advisory firms that deducted fees from client accounts to undergo costly surprise audits.
Power play: Advisory industry pressing to halt expansion of Finra’s oversight
Opposition is mounting to proposed legislation — which is scheduled for a vote in the House tomorrow — that would harmonize regulations governing broker-dealers and investment advisers.
Federal Reserve may scrutinize brokers’ compensation at large firms
Large brokerage firms that are part of bank holding companies could be forced to review their compensation arrangements for brokers and advisers as a result of a pay proposal put forward Thursday by the Federal Reserve Board.
FSI supports self-regulator for advisers
The Financial Services Institute Inc. is now clamoring for a self-regulatory organization to oversee investment advisers.
PA bond seller gets jail time for scamming schools
A suburban Philadelphia man will spend a year and a day in federal prison for selling high-risk securities to four Pennsylvania school districts.
SEC reopens comment period on board nomination proposal
The Securities and Exchange Commission will reopen the comment period for its shareholder director nomination proposal.
Chief lobbyist leaving SIFMA for restaurant association
Scott DeFife, senior managing director of government affairs at the Securities Industry and Financial Markets Association, is leaving to take a job at the National Restaurant Association.
He gets riled about risk
Before being elected to the Senate, Herb Kohl ran his family's grocery and department store business.
No limelight, just labor
House Financial Services Committee Chairman Barney Frank, D-Mass., gets most of the attention on banking and securities issues, but the committee's second-ranking Democrat, Rep. Paul Kanjorski, is the one handling the issues most important to financial advisers.
In reform, defending states’ rights
Denise Voigt Crawford is fighting the war for the states.
When they talk, you’ll listen
In these nail-biting times, advisers need to know who the big shots are.
Once burned, he’s not shy about demands
Sen. Christopher Dodd has his own reasons for pushing hard for financial services reform next year.
Her past is a problem
Financial advisers see “Finra” plastered across SEC Chairman Mary Schapiro's forehead, and it makes them nervous.
