State Street Corp. will pay $89.75 million to settle a class-action lawsuit with a group of employee benefit plans invested in certain active fixed-income strategies managed by its SSgA unit, confirmed Arlene Roberts, State Street spokeswoman.
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.
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
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.
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.
Federal regulators voted Wednesday to require companies to reveal more information about how they pay their executives amid a public outcry over compensation.
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.
The SEC is backpedaling on a proposal that would require advisory firms that deducted fees from client accounts to undergo costly surprise audits.
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.
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.
The Financial Services Institute Inc. is now clamoring for a self-regulatory organization to oversee investment advisers.
A suburban Philadelphia man will spend a year and a day in federal prison for selling high-risk securities to four Pennsylvania school districts.
The Securities and Exchange Commission will reopen the comment period for its shareholder director nomination proposal.
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.
Before being elected to the Senate, Herb Kohl ran his family's grocery and department store business.
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.
Denise Voigt Crawford is fighting the war for the states.
In these nail-biting times, advisers need to know who the big shots are.
Sen. Christopher Dodd has his own reasons for pushing hard for financial services reform next year.
