The Financial Industry Regulatory Authority Inc. will expand a pilot program that allows investors to choose arbitration panels without industry participants.
Investment advisory firms would have to pay fees to cover the cost of SEC examinations under draft legislation released last week by a senior lawmaker.
The investment advisory profession is facing a number of serious policy issues that could dramatically alter the manner in which it is regulated and transform the high ethical standards that have been a hallmark of the profession for decades.
The Investment Adviser Association supports the Obama's administration's efforts to ban mandatory arbitration clauses in securities contracts.
The Securities and Exchange Commission would be expected to define a fiduciary standard that would be applied to brokers and investment advisers, according to draft legislation released this afternoon by House Capital Markets Subcommittee Chairman Paul Kanjorski, (D-Penn.).
In a lawsuit filed today, State Attorney General Richard Blumenthal says the two companies knowingly assigned false ratings to securities tied to subprime mortgages.
Buddy Rogers, who officially tossed his hat into the ring last week for a U.S. Senate seat in Arkansas, thinks that there is one important constituency that need a stronger voice in Congress right now: the financial advisory community.
Although a House Financial Services subcommittee plans to discuss adviser issues at a hearing on Oct. 6, it's unlikely Congress will debate the fine points of adopting a fiduciary standard for all financial advisers.
Progress on health care reform will finally come this year, though it will be made at the expense of other regulatory- and legislative-reform initiatives, two former political party bosses said yesterday at an insurance industry gathering.
Obama wants to establish a Consumer Financial Protection Agency that would regulate credit cards and mortgages and require that banks offer customers low-risk, standardized products.
The worst of the recession may be over, but the financial system still faces risks, Mohamed El-Erian, chief executive of Pacific Investment Management Co., and Laurence Fink, chief executive at BlackRock, warned financial advisers at the Schwab Impact conference last week in San Diego.
Morgan Keegan & Co. Inc. has lost another arbitration case stemming from losses suffered by a former professional athlete when its bond funds blew up: This time it is liable to a former NBA all-star for $1.45 million in damages.
Wagging his finger from the bully pulpit of Federal Hall, President Obama reminded financial leaders last week of the urgent need for new, tighter financial regulation.
A North Carolina woman today filed an arbitration claim with the Financial Industry Regulatory Authority Inc. against Deutsche Bank Securities Inc., claiming that the firm misrepresented a fund as a conservative investment for her marital trust, when it was in fact unsuitable.
A former Morgan Stanley broker was barred today by the Financial Industry Regulatory Authority Inc. for allegedly misappropriating $11,156.47 from the charitable foundation of a 97-year-old nursing home resident who was his client for more than 20 years.
The New York Insurance Department will hold a public hearing tomorrow on the marketing of life insurance and annuities, specifically focusing on suitability of sales to seniors.
The Commodity Futures Trading Commission has charged CapitalStreet Financial LLC, a foreign exchange trading firm in Denver, N.C., with operating a Ponzi scheme in which at least 69 customers were allegedly bilked out of an estimated $1.3 million.
Advisers are wary of President Obama's financial-regulation plans despite his warning today against a return “to the days of reckless behavior and unchecked excess.”
With tax reform high on the administration's agenda for next year, the life insurance industry is pushing for preferential treatment for annuities.
Sen. Charles Schumer's plan to allow the Securities and Exchange Commission to keep the fines it levies is drawing fire for creating a possible conflict of interest for the agency.
