Finra expects to bring cases against brokerage firms involved in selling private-placement offerings next year, its head of enforcement said last week.
The upset election of Scott Brown to the U.S. Senate seat from Massachusetts will have a more modest impact on financial services regulatory-reform legislation than on health care reform. But the stunning result in Massachusetts will give Republican members of the Senate Banking Committee a stronger hand in shaping financial reform.
A one-sentence provision buried in the sweeping financial services reform legislation passed by the House this month has once again pitted investment adviser groups against brokerage groups.
Securities and Exchange Commission Chairman Mary Schapiro today called for subjecting all securities professionals to the same standards of conduct and licensing requirements.
The most important issue that Congress needs to get right in overhauling financial services regulation is reform of the over-the-counter-derivatives market, investor advocate Barbara Roper believes.
High on the mutual fund industry's “to do” list is defeating legislation that would impose a $150 billion-per-year tax on securities transactions.
Wells Fargo Investments LLC will return about $1.3 billion to investors who suffered losses in the auction-rate-securities market, according to the North American Securities Administrators Association Inc.
Legislation that in some cases would require target date fund managers to take on fiduciary responsibilities will be introduced by Senate Special Committee on Aging Chairman Herb Kohl, D-Wis.
John Healy has resigned his position as chief executive of the National Association of Insurance and Financial Advisors, the organization announced today.
Sen. John Kerry of Massachusetts will look at whether financial advisers should continue to be classified as independent contractors.
