A day before he and his hedge-fund consulting firm were stung by the Securities and Exchange Commission with $815,000 in fines and penalties, a major figure in the hedge fund world started his own effort to change hedge fund audits.
As Congress prepares to tighten financial regulation to correct weaknesses revealed by the mortgage collapse, the debate over who should regulate those who give in-vestment advice, including financial planners,
OppenheimerFunds Inc.'s hot streak in the Section 529 college savings plan business is coming to an end.
As Congress starts to take up health care reform, a group representing health insurance agents is voicing its dissent over President Obama's call for universal health insurance.
More than ever, state securities regulators face the threat of a diminished role in overseeing the financial services industry.
President Obama reached his much-ballyhooed 100-day milestone last week, but most financial advisers were in no mood to celebrate.
A Denver district court is slated to hear the case Monday of a former employee of Janus Capital Management Group Inc. who charged the firm with breach of contract.
Delivering a message that his audience probably didn’t want to hear, Paul Kanjorski, D-Penn, chairman of the House Capital Markets Subcommittee, said that federal insurance regulation is inevitable.
The Financial Planning Coalition confirmed today that it is promoting a new regulatory board that would come under the jurisdiction of the Securities and Exchange Commission and would regulate anyone who offered any type of financial planning services.
Sen. Charles Schumer is planning to introduce legislation which would mandate that public corporations give shareholders an advisory vote on executive compensation.
With regulation of the financial planning industry all but a certainty, a coalition of industry groups is cobbling together a proposal to make the Certified Financial Planner Board of Standards Inc. the rule setter and enforcer for the nation's hundreds of thousands of unregulated planners.
State securities officials are lining up against congressional proposals that would create a systemic risk regulator for the financial industry, fearing that it will pre-empt their power.
President Obama today signed into law a bill aimed at strengthening oversight of the $787 billion financial rescue plan.
The effort is an attempt by the financial planning industry both to legitimize itself as a regulated profession and reverse the growing impetus of the Financial Industry Regulatory Authority Inc., which oversees securities brokers, to expand its domain to planners and advisers.
A recent decision by a three-judge panel of the federal appeals court in Boston “dramatically expands securities fraud liability” and should be reversed, the U.S. Chamber of Commerce said in an amicus brief filed April 22.
The Securities and Exchange Commission today charged William L. Gunlicks and his firm, Founding Partners Capital Management Co. of Naples, Fla., with misrepresenting the investments the firm made through a series of partnerships that buy hospital receivables.
Two members of the Senate Banking Committee today called on federal regulators to implement an emergency freeze on credit card interest rates.
House Republicans on Wednesday introduced legislation that would lift the ceiling on retirement savings account contributions.
A critique of state regulatory missteps from The Allstate Corp.’s Tom Wilson, did not sit well with Michael T. McRaith, director of the Illinois Division of Insurance.
State securities regulators are asking Congress for expanded powers to review offerings of private securities.
