Displaying 10262 results
SEC funding shift in Senate’s draft financial fix
Measures that would significantly boost funding for the Securities and Exchange Commission as well as give shareholders a say on executive pay are included in draft financial overhaul legislation in the Senate, a person familiar with the matter said Monday.
Investors’ pain has become attorneys’ gain
The financial advisory industry and its clients still may be struggling with the aftermath of the market crash — but investor plaintiff's attorneys are doing just fine, thank you.
Advisers: SEC, not courts, should set standards for mutual fund fees
Several financial advisers said that they agree with the Supreme Court justices who appeared to suggest during oral arguments last week that the Securities and Exchange Commission, and not the courts, should ultimately decide when mutual fund fees are excessive.
Allegiant ordered to pay $157K to former broker in case of forged Finra letter
An arbitration panel has awarded a former broker at Allegiant Securities LLC $100,000 in a case that arbitrators said involved a forged letter purporting to be from the Financial Industry Regulatory Authority Inc.
Legislation that would shield advisers from lawsuits in the works
The Senate Finance Committee has drafted a bill that would reduce the chances of financial advisers getting hit with lawsuits because of disputes about certain retirement plans and other types of benefit programs sold to small businesses.
Life insurance industry: Investor Protection Act still needs work
Life insurance producer advocacy groups celebrated the House Financial Services Committee's approval yesterday of the proposed Investor Protection Act, but stressed the bill still doesn't go far enough in protecting commissioned-based insurance sales agents.
SEC reviewing director election process, Schapiro says
The Securities and Exchange Commission is conducting a “comprehensive review” of the way proxy ballots are voted in the election of corporate directors and how proxy information is communicated to shareholders, SEC Chairman Mary Schapiro said this morning in New York at the Practising Law Institute's 41st annual Institute on Securities Regulation.
House panel votes to give SEC more money, power
The House Financial Services Committee voted Wednesday to give federal regulators more power and money to police major players in the stock market, four months after Bernard Madoff was sentenced for the biggest investment scam in history.
Investors’ pain has become attorneys’ gain
The financial advisory industry and their clients still may be struggling with the aftermath of the market crash — but investor plaintiff's attorneys are doing just fine, thank you.
Forecasting Finra’s future
The financial services industry has spent most of this year anticipating regulatory changes in response to the recent global economic crisis.
State regulators want inquiry into "inherently conflicted’ SROs
State regulators are up in arms about a provision in the proposed Investor Protection Act which would eliminate a requirement that an independent consultant hired by the Securities and Exchange Commission look into the failures at self-regulatory organizations.
Amended bill targets pre-sale disclosure rules
The Securities and Exchange Commission would be instructed to study whether pre-sale disclosures should be required for all products sold to retail investors under a provision of financial services regulatory-reform legislation likely to be approved this week by the House Financial Services Committee.
SEC may raise RIA threshold to $100M
Some 4,200 advisory firms can expect more oversight and higher costs under legislation that would remove them from SEC oversight and place them under state regulation.
House committee OKs measure that increases asset threshold for state regulation of advisory firms to $100M
The House Financial Services Committee today unanimously approved a measure that would move oversight of investment advisory firms with less than $100 million in assets to state securities regulators.
Obama endorses US House financial overhaul bill
President Barack Obama on Tuesday endorsed a bill in the U.S. House of Representatives that would give the government unprecedented power to seize bank holding companies teetering on the brink of collapse and stick their competitors with the cost.
NASAA wants study into ‘inherently conflicted’ SROs
State regulators are objecting to proposed amendments to the Investor Protection Act that would eliminate a requirement to look into the failures at self-regulatory organizations.
Petters a victim or victimizer? Jury deliberates
A jury will return Tuesday to further deliberate the fate of a Minnesota businessman accused of operating a Ponzi scheme that cost investors more than $3.5 billion.
SEC aims to expand disciplinary data
If the SEC has its way, more disciplinary information about brokers will be available to investors.
SEC exams of advisers get tougher and meaner
The SEC may be examining fewer investment advisers than ever, but when it does pay a visit, even routine exams are more demanding, according to lawyers, consultants, advisers and the agency itself.
Finra’s Ketchum pitches — again — for adviser oversight
Richard Ketchum, the chairman and chief executive of the Financial Industry Regulatory Authority Inc., told a gathering of brokerage firm executives that his group will be more aggressive about investigating the advisory activities of their brokers — regardless of whether it gets full regulatory authority to oversee investment advisers.
