A sweeping housing bill is expected to be signed into law by President Bush in the middle of this week.
The Senate voted 80-13 to limit debate on the bill that would aid ailing mortgage giants and help struggling mortgage holders.
The pilot program will allow about 400 arbitration claimants to select a panel without an industry representative.
The bill would provide $300 billion in funding to troubled homeowners and aid the ailing Fannie Mae and Freddie Mac.
Wachovia Securities LLC of St. Louis continues to file lawsuits against groups of legacy A.G. Edwards brokers who have left the firm.
SIFMA wants Finra to raise the threshold for reporting settlements with customers to $25,000, from $10,000.
Billionaire money manager Jeffrey Epstein was sentenced to 18 months in jail for soliciting prostitution.
A bill to increase penalties for people who commit securities violations against seniors was introduced in the Senate today.
A Massachusetts securities regulator today sued two units of UBS AG, charging the employees with fraud and dishonest conduct in sales of auction rate securities.
The Senate Banking Committee today unanimously approved three nominees to be members of the Securities and Exchange Commission.
A former UBS AG banker testified against the firm yesterday, claiming it participated in schemes to help hide $20 billion in assets and avoid income tax laws.
The SEC has filed an injunctive action against James G. Marquez, a principal of the failed Bayou Fund.
Former employees of Morgan Stanley and Janney Montgomery Scott LLC were indicted on kickbacks and fraud charges.
A Florida pension fund yesterday filed suit against AIG and four executives of making misleading statements about the company’s finances.
The Securities and Exchange Commission is investigating Franklin Bank after an internal probe revealed accounting errors tied to residential real estate loans.
When they started their partnership in 1990 at Morgan Stanley, brokers Gerald P. Kessler and Paul S. Baker probably never imagined that the dissolution of their book of business — $470 million in assets, producing an estimated $3 million a year in fees and commissions — would hinge on a coin toss.
The U.S. subprime meltdown will result in more-stringent banking regulations, according to former Sen. Paul Sarbanes.
The Energy and Tax Extenders Act may be taken up next week by the House of Representatives.
John Carl of AllianceBernstein won $10 million in damages against the firm and $2 million in punitive damages.
A spate of class actions involving auction rate securities may be behind an expected rise in securities class actions this year.
