In the wake of the alleged insider-trading ring involving hedge fund manager Galleon Group, compliance departments at asset management firms and broker-dealers are stepping up their vigilance.
The brokerage industry will put up a fight to stop <a href=http://www.investmentnews.com/apps/pbcs.dll/article?AID=/20091101/REG/311019957>a potential power shift</a> that could give the Financial Industry Regulatory Authority Inc. oversight of much of the investment advisory industry.
The number of defendants agreeing to settlements with the Securities and Exchange Commission dropped for the second straight time in fiscal 2009, declining nearly 8% to 626 defendants from 673 in fiscal 2008, according to a report released today by NERA Economic Consulting.
The House Financial Services Committee last Wednesday unanimously approved a bill that would create a federal insurance office within the Treasury Department.
Federal agents are seizing assets from a Florida lawyer suspected of orchestrating a multimillion-dollar fraud scheme.
Investment adviser Value Line Inc., its CEO and its former compliance chief have agreed to pay about $45 million to settle regulators' allegations the firm charged more than $24 million in bogus commissions on mutual fund trades.
JPMorgan Chase paying more than $700 million to settle SEC charges over Ala. county bonds
The two trustees of Medical Capital Holdings Inc.'s private placements, Wells Fargo & Co. and The Bank of New York Mellon Corp., have been sued by investors seeking class action status.
A rep formerly affiliated with First Allied Securities Inc. says he will fight SEC charges that he churned client accounts and made unauthorized and unsuitable trades for two institutional clients, resulting in commissions of $14.2 million.
The Labor Department is still considering regulating target date funds, according to Phyllis C. Borzi, assistant secretary of labor for the Employee Benefits Security Administration.
Provisions in legislation aimed at “too-big-to-fail” financial firms will increase borrowing costs for large institutions — and will make it harder to get secured lending, according to financial industry officials.
A court ordered the Tokyo Stock Exchange Friday to pay 10.7 billion yen ($121 million) in damages to Mizuho Securities Co. Ltd. over massive losses in a botched transaction.
Life insurers are concerned that legislation the House Financial Services Committee is likely to approve after Thanksgiving will increase costs substantially for the 28 carriers that have assets of more than $50 billion.
The Department of Labor's withdrawal of a controversial rule allowing advisers to work directly with retirement plan participants — just days after the agency extended the effective date of the rule — has some industry observers wondering if DOL officials are buckling under pressure from Congress.
The European Parliament on Thursday strongly rejected a deal that would have allowed U.S. authorities access to European bank transfers, allegedly to track funds supporting terror groups.
In an apparent first, a registered representative and his individual practice have been sued in a potential class action stemming from oil-and-gas private placements that the SEC claims were fraudulent.
Financial advisers with Securities America Inc. continued to sell offerings of allegedly faulty private placements after an executive at the firm sounded the alarm bell about the deals last year, according to a recently filed lawsuit.
These days, money market funds are investing only the safest securities.
Terra Nova Financial LLC, a Chicago-based broker, has been fined $400,000 by federal regulators who say the firm made unauthorized payments to clients, including money to cover one hedge fund manager's visits to a “gentleman's club.”
