Practice

A federal judge raised the possibility that banks will have to repay billions of dollars to merchants, but legal experts say the court lacks the authority to enact such an order.

FINRA has fined Oppenheimer and Co. $1,425,000 for the sale of unregistered penny stock shares and for failure to provide an adequate anti-money laundering (AML) compliance program, which would detect and report suspicious penny stock transactions.

The U.S. government urged General Motors Co. (GM) to improve pensions of some Delphi Automotive Plc (DLPH) union retirees while cutting those of salaried workers to help ensure a speedy emergence from a GM bankruptcy, the watchdog of the Troubled Asset Relief Program said.

Proceed with care. That’s what bankers, accountants and wealth managers are telling same-sex couples considering financial changes because of the Supreme Court’s rejection of a federal law denying them benefits.

More than two-thirds of all students who graduate from a higher-education program that grants a degree or certificate in financial planning do not sit for the Certified Financial Planner Board of Standards exam, according to new research from the CFP Board.

The Financial Industry Regulatory Authority (FINRA) has fined Oppenheimer and Co. $1,425,000 for the sale of unregistered penny stock shares and for failure to provide an adequate anti-money laundering (AML) compliance program, which would detect and report suspicious penny stock transactions.

U.S. District Judge for the District of Columbia Richard Leon warned attorneys representing the central bank he wanted a clear answer on the Fed's position on issuing an interim final rule dictating allowable fees for debit card transactions and how quickly it could be completed.

Benjamin Lawsky, who runs the New York Department of Financial Services, has become a top industry cop, taking on money launderers, payday lenders and even Bitcoin. In an interview, he discusses the need to break new ground while playing nice with federal regulators.

Bloomberg -- Aides to President Barack Obama and Senate Majority Leader Harry Reid discussed the process of choosing the next U.S. Federal Reserve chairman in the wake of a letter from some chamber Democrats touting one contender, according to a person familiar with the conversations.

In order to tap into fresh sources of capital, non-U.S. fund managers are looking to the U.S. to distribute investment strategies. This raises many issues: choosing the right vehicles for the job, regulatory considerations, and more.