Regulation

A U.S. probe into how Morgan Stanley client information ended up for sale on the Internet is examining whether a financial advisor was targeted by hackers after he took data from the bank, two people briefed on the inquiry said.

Bradley Birkenfeld, the former UBS Group banker who won a $104 million whistle-blower award after serving time in prison for tax conspiracy, won a U.S. judge’s permission to testify in France in a separate probe of the Swiss bank.

Charles Schwab and New York agreed to settle a 2009 lawsuit in which the state accused the firm of promoting auction-rate securities as safe while failing to disclose the risks before the market for them froze.

The Obama administration is expected to endorse more stringent fiduciary rules requiring brokers to have their clients' best interest in mind when recommending retirement-account investments; Plus, the retirement investment mistake clients don't know they're making.

A recent research paper found that community banks' assets, along with market share in most types of commercial lending, have fallen since the Dodd-Frank Act was passed. The report is giving advocates of smaller institutions more data to rally around.

Industry leaders at NICSA's strategic leadership forum in Hollywood, Fla., reached quick consensus on the twin challenges at the top of every organization's strategic priority list: managing cybersecurity threats and responding to increased regulatory demands.

The International Organization of Securities Commissions said that it will publish a second batch of draft plans on Feb. 20 for identifying funds or particular investing practices that could present systemic risks.

Local investing opportunity networks can bring in a healthy income stream -- but advisors need to make sure compliance is squarely on their side.

Obama signs executive order encouraging businesses to share more information about new and emerging threats as regulators warn the advisory industry that they're watching closely.

Top official says the industry regulator is combing through hundreds of comment letters on controversial broker data-reporting rules, vowing close consideration of privacy and security concerns.