Senate Banking Committee Chairman Christopher Dodd's decision to retire could allow him to push through proposals to bring brokers under traditional fiduciary standards.
The top Senate Democrat and Republican negotiating new Wall Street regulation said Wednesday they expect to resolve their differences before the end of January, an optimistic outlook for a bill that had seemed mired in partisan conflicts.
The Goldman Sachs Group Inc. is suing seven former employees of its private-wealth-management division who joined Credit Suisse Group AG for “pirating” the bank's clients and reps.
The former head of a Chicago asset management company pleaded guilty Wednesday to fleecing six union pension funds of $24 million and spending much of the money on jewelry, gambling and renovation of his strip club.
Enforcement director follows Robert Errico out the door at industry watchdog
Donald Kohn, the second-highest ranking official at the Federal Reserve, announced Monday that he will leave at the end of June, giving President Barack Obama a chance to put a bigger imprint on the central bank.
The fate of a lawsuit brought by two brokerage firms against NASD over its 2007 merger with the New York Stock Exchange's regulatory unit could be decided this month.
HighTower Advisors LLC chief Elliot Weissbluth last week shrugged off a “lift-out” lawsuit filed against the firm last month by Morgan Stanley Smith Barney, calling it baseless.
Facing intense pressure from securities regulators and investors, Morgan Keegan & Co. Inc.'s legal fees have skyrocketed during the past two years to $251 million, leaving some industry observers shocked.
The recent Supreme Court decision makes pay-to-play regulations unconstitutional — or at least, that's the take of one securities attorney. Others don't see it that way.
The Securities and Exchange Commission is appealing a ruling that prevents it from sanctioning former officials of self-regulatory organizations.
As part of his plan to limit the size of banks, President Barack Obama today proposed prohibiting financial institutions that own banks from investing in or advising hedge funds or private-equity funds.
While brokers who provide advice will likely be held to a fiduciary standard this year, a battle is raging on Capitol Hill over what that standard would look like and how it would work.
After a string of high-profile securities arbitration losses, Morgan Keegan & Co. Inc. emerged as a winner in an $8.2 million investor complaint that alleged unsuitability and breach of fiduciary duty related to firm's bond funds.
Morgan Keegan & Co Inc. has lost another arbitration case stemming from a blow up of its bond funds to a former professional athlete, this time liable to a former NBA all-star for $1.45 million in damages.
Federal Reserve Chairman Ben Bernanke expressed concerns Wednesday about the economic recovery during a ceremonial swearing-in for another four-year term.
Rogue brokers will find it harder to hide their disciplinary records if the Financial Industry Regulatory Authority Inc. has its way.
Registered representatives should be careful about mixing personal use of social-networking sites with business use, a Finra executive said today.
