Displaying 10262 results
IAA chief: Kanjorski bill would weaken Advisers Act
A proposal put forward by the Obama administration and Rep. Paul Kanjorski, D-Pa., chairman of the House Financial Services Subcommittee on Capital Markets, Insurance and Government Sponsored Enterprises, would weaken the Investment Advisers Act of 1940, according to the head of a group that represents federally registered advisers.
Obama would create consumer protection agency
President Barack Obama fought to keep his proposed banking overhaul on track Friday, casting the political struggle ahead as one between big financial interests and average Americans victimized by complex or unscrupulous financial transactions.
Regions Financial, Merrill Lynch hit with class action
A Florida investor filed a federal class action against Regions Financial Corp., alleging that when the bank tried to obtain shareholder approval for a 2006 acquisition, it misrepresented its financial condition to the investors.
Score one for the NCAA: Rule upheld that bans college athletes from using advisers when going pro
A former Oklahoma State pitcher received a $750,000 settlement from the NCAA to end a lawsuit challenging a rule that bans college baseball players from using legal advisers in contract negotiations with professional teams.
FSI calls for a self-regulator for investment advisers
But the Financial Services Institute Inc. isn't suggesting it should be Finra just yet
Taking it to the Hill: Congress urged to unify standards for advisers and brokers
Regulators and investor advocates voiced support Tuesday for a proposal that addresses consumer protection and would bring investment funds under government supervision as part of Congress' efforts to revamp the U.S. financial rule book.
Investor protection takes center-stage in Washington
House lawmakers crafting legislation to overhaul the system of financial regulation are focusing on the key elements of investor protection and bringing investment funds under government supervision as they hear the views of regulators, industry officials and investor advocates.
Out of the loop and in the dark, states seeking more power in light of Stanford scheme
Some of the nation's secretaries of state want Congress to change regulations that kept them out of the loop during a federal probe of the now-defunct Stanford Financial Group.
Industry officials sound off on federal insurance office proposal
Regulators and representatives of the insurance industry appeared before Congress today to discuss a new draft of the Federal Insurance Office Act of 2009.
Finra chief: Let the SEC rule on mandatory arbitration clause
The head of the Financial Industry Regulatory Authority Inc. today threw the group's support behind allowing the Securities and Exchange Commission to ban mandatory arbitration clauses in securities contracts.
Finra expands pilot program that eliminates industry participants from arbitration panels
The Financial Industry Regulatory Authority Inc. will expand a pilot program that allows investors to choose arbitration panels without industry participants.
Kanjorski bill would impose new fee on RIA firms
Investment advisory firms would have to pay fees to cover the cost of SEC examinations under draft legislation released last week by a senior lawmaker.
Advisory firms must work together
The investment advisory profession is facing a number of serious policy issues that could dramatically alter the manner in which it is regulated and transform the high ethical standards that have been a hallmark of the profession for decades.
IAA backs Obama on banning mandatory securities arbitration
The Investment Adviser Association supports the Obama's administration's efforts to ban mandatory arbitration clauses in securities contracts.
Kanjorski: SEC should define fiduciary standard
The Securities and Exchange Commission would be expected to define a fiduciary standard that would be applied to brokers and investment advisers, according to draft legislation released this afternoon by House Capital Markets Subcommittee Chairman Paul Kanjorski, (D-Penn.).
In first, Conn. sues Moody’s and S&P over CMO ratings
In a lawsuit filed today, State Attorney General Richard Blumenthal says the two companies knowingly assigned false ratings to securities tied to subprime mortgages.
ING adviser vies for Senate seat in Arkansas
Buddy Rogers, who officially tossed his hat into the ring last week for a U.S. Senate seat in Arkansas, thinks that there is one important constituency that need a stronger voice in Congress right now: the financial advisory community.
Fiduciary issue likely to land in SEC’s lap
Although a House Financial Services subcommittee plans to discuss adviser issues at a hearing on Oct. 6, it's unlikely Congress will debate the fine points of adopting a fiduciary standard for all financial advisers.
Washington insiders: Financial restructuring will take a backseat to health care reform this year
Progress on health care reform will finally come this year, though it will be made at the expense of other regulatory- and legislative-reform initiatives, two former political party bosses said yesterday at an insurance industry gathering.
Obama tries to reclaim debate on financial reform
Obama wants to establish a Consumer Financial Protection Agency that would regulate credit cards and mortgages and require that banks offer customers low-risk, standardized products.
