A U.S. District Court judge has denied a bid for class action status by 17 black financial advisers in their five-year-old discrimination suit against the Merrill Lynch unit of Bank of America Corp.
One likely outcome of the Dodd-Frank financial-reform legislation is that it will rally the TruPS.
The Financial Industry Regulatory Authority Inc. is proposing a rule that would let the regulator demand more frequent financial reporting from its member firms — and as a first step, it wants more details on revenue and expenses.
Like many aspects of the financial-regulatory-reform legislation that became law July 21, the provision that increases the threshold for state regulation of investment advisers doesn't go into effect for another year.
Dually registered advisers not utilizing relief, regulator says
The commission's plan to cap the fees is intended to save investors some money. But some advisers predict it will actually drive up costs, as brokers shift to wrap accounts in a bid to preserve revenue
Morgan Stanley, owner of the world's largest brokerage, lost an arbitration ruling that will allow two brokers convicted of securities fraud to each keep $4.45 million in signing bonuses.
The Financial Industry Regulatory Authority Inc. is proposing a rule that would let the regulator demand more frequent financial reporting from its member firms — and as a first step, it wants more details on revenues and expenses.
Seattle celebrity stole nearly $9 million from 38 clients; surrenders three homes and dozens of vehicles
An unexpected visit by an ING Financial auditor uncovered a potential scam at Breard & Associates Wealth Management. Now, infomercial star Rhonda Breard faces fraud charges.
Management isn't convinced it needs the marketing fees to attract assets; 'bang for the buck'?
Advisers are alarmed that a new online reporting system that discloses their disciplinary records includes customer complaints that have not been substantiated.
The guru of federal retirement policy has high hopes for one of his yet-to-be-approved retirement creations: the automatic IRA.
What to do while waiting for the participant advice rule to be finalized.
The Vanguard Group Inc. is alleged to have violated federal law when it refused to hire an black applicant because of her race, according to a lawsuit filed by the Equal Employment Opportunity Commission.
The controversial CEO is set to become the insurer's longest-serving chief executive officer since the company's near-collapse in 2008
A lawyer in Denver has filed a suit against the Securities and Exchange Commission, demanding the names of the SEC employees who were recently disciplined for viewing pornography on government computers.
Capitalism, the free market no longer at work; making sense of the 'new normal' nearly impossible
In the two days since the Securities and Exchange Commission formally began seeking comment on establishing a fiduciary duty for retail investment advice, more than 70 individuals have submitted statements ranging from one line to several paragraphs.
