The Securities and Exchange Commission will issue a rule proposal as early as this week that would lead to surprise audits of investment advisory firms that held custody of their clients' assets.
Michael Lauer, the head of two Connecticut hedge funds, was ordered to pay more than $62 million to settle charges he defrauded investors of more than $500 million by manipulating securities prices and lying about the holdings of his funds, the Securities and Exchange Commission announced today.
All companies that offer 401(k) plans should be required to automatically enroll employees in the plans, the head of Putnam Investments told Investment Company Institute members today.
The government’s stress tests of banks have been shrugged off by the market, Bill Miller, chairman of Legg Mason Capital Management Inc., told the Investment Company Institute today.
The Securities and Exchange Commission plans to re-examine the issue of 12(b)-1 fee reform, Chairman Mary Schapiro pledged today at the Mutual Fund Directors Forum Annual Policy Conference in Washington.
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.
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 SEC will consider two proposals on custody rules as part of a package of initiatives aimed at ensuring the safekeeping of investor assets in the wake of the massive Ponzi scheme perpetrated by Bernard L. Madoff Securities LLC of New York, Securities and Exchange Commission Chairman Mary Schapiro said today.
