Practice

The Financial Industry Regulatory Authority is preparing to take enforcement action against certain firms for selling municipal bonds to retail customers without disclosing material information, including that the bonds’ credit ratings had been spiraling downward, a FINRA official said Thursday.

Loan-level data about the mortgages pooled in those MBS was available to investors in Abacus and other such deals throughout the frothy heyday of CDOs

Though it was clear from the start that a Republican alternative on the consumer bureau was going to fail, GOP lawmakers dragged out the debate rather than allowing the measure to be voted on and moving on to some of the roughly 140 other amendments still to be considered.

Charles Schwab will pay an additional $35 million on top of the $200 million settlement announced April 20 in the District Court, Northern District of California case against the Schwab YieldPlus fund.

In an effort to help advisors meet regulatory requirements, State Street Corp. launched a suite of money maket funds services.

The staff of the Securities and Exchange Commission will hold a public seminar next month to help mutual funds comply with new electronic filing requirement that take effect next year.

In what could be a first of it’s kind action in the municipal bond market, the Internal Revenue Service has suspended tax-exempt bond attorney Michael W. McCall for at least 24 months from practicing before it for writing a false tax opinion.

In joint letter to legislators, trade associations ask that insurers be excluded from resolution funding.associations

Community bankers are close to winning a key change to the Senate regulatory reform bill that would require the government to base deposit insurance rates on assets instead of domestic deposits.

Retiring boomers are changing the way the financial services industry - and the government – think about annuities.