Making it easier for shareholders to seat directors on company boards, restricting short-selling in down markets, strengthening oversight of mutual funds, and tightening scrutiny and standards for investment advisers are among the pro-investor initiatives being undertaken by the SEC's , the agency's chairman said Thursday.
Obama wants to empower the Fed, create a council of federal regulators to monitor risk, and create a new consumer protection agency overseeing credit card lenders and mortgage brokers.
President Obama's plan to transform the Federal Reserve into a super-regulator ran into skepticism Thursday from lawmakers who worry that the central bank is not the best suited to keep an eye on firms deemed so big and influential that their demise could hurt the economy.
President Obama unveiled a systemwide regulatory overhaul Wednesday, measures he hopes will restore confidence in the U.S. financial system and prevent a repeat of the worst crisis to hit Wall Street in seven decades.
A call by the Obama administration to establish a fiduciary standard for broker-dealers offering investment advice was welcomed today by financial advisers, but they are concerned about plans to “harmonize” regulation of investment advisers and brokers.
Some lawmakers and economists say making the Fed a "systemic risk regulator" would itself be a high-stakes risk that would distract from its core mission: reviving the economy.
Because the insurance industry has grown to $6.3 trillion in assets under management and $1.2 trillion in annual premiums, the regulations that govern the industry need to be modernized, according to House Capital Markets Subcommittee Chairman Paul Kanjorski, D-Pa.
A sprawling case of alleged securities fraud involving an independent broker-dealer and two brokers may wind up costing an insurance company $10.3 million.
As new annuity rules continue to develop, chief compliance officers at broker-dealers say that they still face some challenges in implementing compliance procedures with their financial advisers.
As Congress takes up health care reform, too little attention is being paid to long term care.
Something must be done to encourage employees of small companies to save for retirement. As many as 78 million such workers aren't saving for the future and ultimately will depend solely on Social Security for retirement income.
Keith Gregg, former president and chief executive of First Allied Securities Inc. of San Diego, is suing the firm, claiming that he was forced out after complaining about improper practices at the company. Officials at the firm deny the charges and were set to answer the complaint and file a counterclaim against him today.
The Obama administration's sweeping proposal to tighten financial regulation is unlikely to press for the formation of a self-regulatory organization to oversee investment advisers.
The proposal would allow the SEC to issue rules requiring companies to give shareholders more say in executive compensation.
As part of a settlement last month with securities regulators in Arizona, Woodbury Financial Services Inc. agreed to tighten its policy of looking into the financial backgrounds of their 1,750 reps and advisers.
Executive compensation should decided by company boards, not imposed by legislators or regulators,
Two California men and the companies they ran were charged today with conducting an $80 million Ponzi scheme that targeted Korean-American investors with false promises of annual returns of up to 36% from foreign currency trading,
Separate efforts to sell the businesses and personal property of disgraced financier Bernard Madoff have been combined to speed the process and get more of the proceeds to those he cheated.
The difference in regulatory oversight for broker-dealers and investment advisers leaves consumers open to risks, Richard Ketchum, chief executive of the Financial Industry Regulatory Authority Inc., said today.
The Obama administration’s consideration of a safety commission for financial products needs to be approached with great care, Richard Ketchum, chief executive of the Financial Industry Regulatory Authority Inc., said today at NAVA’s annual legislative and regulatory conference.
