Regulation And Legislation

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NEWS PRACTICE MANAGEMENT MAR 17, 2011
Lawyer crosses swords with Finra - and wins

It took a long time, but Kevin Carreno has been vindicated

NEWS REGULATION AND LEGISLATION MAR 17, 2011
Report slams SEC union, agency's oversight of Finra

NEWS RIAS MAR 17, 2011
SEC gave investors half a loaf in arb panel ruling

The SEC deserves a pat on the back for eliminating the requirement that a securities industry representative sit on Finra arbitration panels. Still, its obligation to assure that investors get a fair shake in disputes with their brokers remains unfulfilled.

NEWS RIAS MAR 17, 2011
SEC OKs all-public arbitration panels

The Securities and Exchange Commission yesterday approved a Financial Industry Regulatory Authority Inc. proposal to give investor claimants the option of using all-public arbitration panels.

NEWS REGULATION AND LEGISLATION MAR 15, 2011
Tax strategy patents may be headed for ash heap

Now that the Senate has approved a ban on patents for tax strategies, proponents are turning their focus to the House

Finra socks Southwest Securities again
NEWS FIXED INCOME MAR 13, 2011
Finra socks Southwest Securities again

Southwest Securities Inc., the Dallas-based brokerage fined this month over payments to municipal-bond advisers, will pay $650,000 to resolve claims over improper short sales that caused a $6.3 million loss for the firm.

It pays to fight SEC, Finra: Study
NEWS REGULATION AND LEGISLATION MAR 13, 2011
It pays to fight SEC, Finra: Study

Research shows that one in seven cases dismissed; fines often lowered

NEWS LIFE INSURANCE AND ANNUITIES MAR 13, 2011
Sen. Harkin: New retirement scheme hinges on advisers

A congressional leader sees a key role for investment advisers in his vision for reform of the retirement system

NEWS ALTERNATIVES MAR 13, 2011
CFAs worry about derivatives

The disclosure and use of financial derivatives by financial firms is the biggest concern of the nation's leading financial analysts

NEWS REGULATION AND LEGISLATION MAR 13, 2011
SEC runs into GOP wall while seeking money

If two House hearings last Thursday were any indication, the Securities and Exchange Commission faces an uphill battle in winning approval for its $1.4 billion budget request — including the $300 million increase it says it needs to fulfill its core mission and its Dodd-Frank obligations

NEWS RETIREMENT PLANNING MAR 13, 2011
Plan fee disclosure strains B-Ds

Service providers have an additional six months to prepare for plan fee disclosure regulations, and it seems that broker-dealers will need all that time

NEWS REGULATION AND LEGISLATION MAR 13, 2011
Custody rule hits firms in wallet

Blame it on Bernie

Schapiro: SEC budget cuts would 'dramatically' curtail exams
NEWS REGULATION AND LEGISLATION MAR 11, 2011
Schapiro: SEC budget cuts would 'dramatically' curtail exams

Head of commission says GOP proposal would lead to big reduction in number of firm audits

NEWS RETIREMENT PLANNING MAR 11, 2011
Fiduciary rule change could mean compliance crush for B-Ds

Financial adviser training and compliance expenses could spike for broker-dealers of all sizes — and become especially burdensome to smaller firms — if the Labor Department applies its proposed fiduciary rule to individual retirement accounts, observers say.

NEWS MUTUAL FUNDS MAR 11, 2011
What Eileen Rominger's appointment means for fund biz

The Securities and Exchange Commission's appointment of Eileen Rominger, an 11-year veteran of Goldman Sachs Asset Management, as its new director of investment management, marks the first time in decades — if ever — that the agency has named an industry executive with no legal background to the position.

NEWS RETIREMENT PLANNING MAR 09, 2011
More RFPs requesting info on advisory services

Retirement plan clients seem to want it all — and these days, they're asking plan advisers what they can do for their participants in terms of guidance.

NEWS BROKER DEALERS MAR 09, 2011
B-Ds gird for increased product scrutiny

NEWS REGULATION AND LEGISLATION MAR 09, 2011
Finra to alter makeup of district committees

In a move that some say could disenfranchise smaller firms, the Financial Industry Regulatory Authority Inc. plans to revamp its district committees

NEWS REGULATION AND LEGISLATION MAR 09, 2011
Fiduciary rule change could mean compliance crush for B-Ds

Financial adviser training and compliance expenses could become more onerous for broker-dealers -- if the Department of Labor applies its proposed fiduciary rule to IRAs

NEWS MUTUAL FUNDS MAR 07, 2011
Stocks of smaller banks likely to come up big

With megabanks besieged by regulators and facing a public backlash over the 2008 credit crisis, portfolio managers increasingly are looking at smaller banks as a value play in the financial services sector