The Securities and Exchange Commission would be required to issue rules prohibiting or limiting mandatory arbitration clauses in securities contracts under draft legislation introduced this week by Senate Banking Committee Chairman Christopher Dodd, D-Conn.
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.
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.
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.
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.
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 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.
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.
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.
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.
The financial services industry has spent most of this year anticipating regulatory changes in response to the recent global economic crisis.
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.
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.
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.
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.
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.
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.
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.
If the SEC has its way, more disciplinary information about brokers will be available to investors.
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.
