Practice

Roughly two years after its near collapse, critical questions about the fall of Wachovia remain unanswered

The Securities and Exchange Commission has given money market funds a reprieve from following an amendment to money market fund regulations requiring them to approve of the credit rating agencies they must use to determine whether a security is eligible for investment.

Two advisor trade groups - the Securities Industry and Financial Markets Association and Financial Planning Coalition, which consists of the Certified Planner Board of Standards, the Financial Planning Association and the National Association of Personal Financial Advisors - finally sent in their comment letters to the Securities and Exchange Commission regarding Section 913 of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, or what the Commission should do about enforcing a blanket fiduciary standard for all financial advisers.

Members of the Financial Crisis Inquiry Commission sought to overturn the conventional wisdom that Wells Fargo's purchase of Wachovia was done without government assistance.

Schwab survey finds that the majority of boomers aren’t planning to delay retirement.

The Securities and Exchange Commission has charged two former senior accounting professionals at headphone maker Koss Corp. with accounting fraud, books-and-records violations, and related misconduct arising from the embezzlement of more than $30 million from the company.

The FDIC chairman said the agency would soon publish an interim rule on its new resolution authority over systemically important banking companies and certain nonbanks.

Market volatility means many entrepreneurs are focusing on the survival of their businesses ahead of their retirement plans.

With the SEC’s fiduciary-standard study period drawing to a close, SIFMA and FPC comment letters take up familiar arguments.

Banks and thrifts had their best performance in almost three years during the second quarter, earning $21.6 billion, a 16% jump from a quarter earlier, the Federal Deposit Insurance Corp. said Tuesday.