Federal regulators have sued a defunct California investment brokerage and its former CEO, accusing them of fraud in selling more than $300 million worth of risky mortgage-backed securities to unsophisticated investors.
The Obama administration's strategy to ad-dress the economic crisis may be making the problem worse.
The brokerage industry is angry about President Obama's efforts to eliminate certain tax breaks for U.S. corporations that do business -offshore.
Investors and financial advisers who are stuck holding auction rate securities bought from “downstream” broker-dealers have begun to step up their legal claims against the major firms that marketed the investments as safe.
Congress is likely to begin a review of the financial oversight system next month, with an eye toward revamping regulation. Banking, of course, will take center stage, especially now that the federal government has a direct stake in many of the nation's largest banks.
The financial advisory industry is bracing for a battle over the Securities and Exchange Commission's efforts to subject thousands of investment advisers to surprise exams by outside auditors.
Keeping track of rogue brokers is a tricky business, particularly when they leave or are booted from the confines of the securities industry, but keep peddling financial products.
State-level financial regulators today urged Congress to set up a group of regulatory agencies to deal with systemic risk.
Senators Charles E. Schumer, D-N.Y., and Maria Cantwell, D.-Wash., today introduced legislation called the Shareholder Bill of Rights that includes provisions to increase accountability and oversight at publicly traded corporations, including say on pay for shareholders.
An industry association that represents the interests of retirement plan service providers this week will suggest modifications to proposed legislation that would require the industry to break out 401(k) fees on investors' statements.
In another sign that industry-affiliated arbitrators may be on their way out, the Financial Industry Regulatory Authority Inc. wants to stop using industry panelists in most cases involving a registered representative and a brokerage firm.
Finra chief Richard Ketchum's call for a fiduciary standard for all advisers, even as he indicated that he would not want to significantly alter suitability rules for broker-dealers, highlights the difficulties inherent in harmonizing the two regulatory standards as the strife-torn industry moves towards establishing a single self-regulatory organization for advisers.
The lack of a uniform fingerprinting requirement for insurance agents and brokers may serve as new ammunition in the battle over federal regulation of the insurance industry.
If legal action against Fisher Investments is any indication, financial advisers increasingly will face lawsuits and arbitration claims from clients who are angry about investment losses.
The Financial Industry Regulatory Authority Inc. will likely take a more active role in the examination of registered investment advisers as a result of regulatory reform, the Tower Group Inc. concluded in a study to be released Monday.
House Democrats are looking at big health care changes, including federal aid to help families earning up to $88,000 pay for insurance and a requirement that all must carry coverage.
The legislative proposal is the administration's first major step in overhauling the nation's financial regulatory system.
A former employee of Ladenburg Thalmann Financial Services Inc. of Miami has filed $5 million arbitration claim against the firm and its subsidiary, Investacorp Inc., for alleged breach of contract.
Members of Congress today weighed the implications of the federal government’s regulating the insurance industry.
Fisher Investments, one of the country’s most noted investment advisory firms, has been tagged with a $1.2 million arbitration claim, alleging that it failed to live up to its fiduciary duty during the recent calamitous market meltdown.
