Finra has opened up its checkbook to lobby Congress for authority over investment advisers.
The news that Sen. Christopher Dodd of Connecticut will not seek re-election this fall is a welcome development for both the nation's most powerful banking regulator, Federal Reserve Chairman Ben Bernanke, and its toughest, Federal Deposit Insurance Corp. Chief Sheila Bair.
A year after Wall Street failures plunged the nation into recession, the House on Friday passed the most ambitious restructuring of financial regulation since the New Deal.
A Utah judge has thrown out a lawsuit filed by two former financial advisers accusing state regulators of violating their constitutional rights by bringing securities violations against them without proof of wrongdoing.
The U.S. Supreme Court today rejected a review of the dismissal of a lawsuit against Deere & Co. and two Fidelity Investments units, claiming unreasonable fees were charged for investment options in Deere's $3.1 billion 401(k) plan.
The actively managed exchange-traded-fund market is expected to explode as top mutual fund companies consider entering the business or expand their lineups.
Almost a year after a court dismissed a complaint against Wal-Mart over its 401(k) plan fees, the 8th U.S. Circuit Court of Appeals has brought the case back into play.
In the next two weeks, members of Congress are expected to decide on the fate of legislation that would have severe implications for every firm that advised 401(k) plan participants, or planned to.
The Senate Special Committee on Aging is considering proposing legislation that would require all managers of qualified default investment alternatives in defined-contribution plans to act as fiduciaries under ERISA — a move that would place much more stringent requirements on all managers of target date funds, target risk funds and balanced funds.
Massachusetts regulators allege two Newton financial advisers and their company connected to a Framingham man's alleged Ponzi scheme have been operating as unregistered brokers.
A Los Angeles man has pleaded not guilty to running a Ponzi scheme that cheated about 50 investors in a NASCAR merchandise wholesale business out of at least $10 million.
People who knew how to make a quick buck held some of the fastest-growing jobs two years ago. Now, the growth industry is in helping financial firms figure out how to follow the rules.
New arbitrations filed with Finra surged in 2009 to 7,137 cases, up from 4,982 cases in 2008, according to statistics recently released by Finra. That's a 43% gain.
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.
Thomas Weisel Partners Group Inc., the San Francisco-based investment bank, faces a regulatory probe over the sale of $15.7 million in auction-rate securities as the market neared collapse.
The FDIC seized another four banks late last week, bringing the year's tally to 41. And there's plenty more where that came from
The Department of Labor and the Treasury Department have put out a request for information on the use of annuities in defined-contribution plans.
Caterpillar Inc.'s announcement that it has reached a tentative settlement over the fees it charged its 401(k) plan participants may be bad news for plan sponsors, their advisers and mutual fund companies.
New targets have surfaced for lawsuits over 401(k) fees: small retirement plans, their investment advisers and service providers.
