Regulation

UBS sought damages for breach of employment contract; an ex-UBS advisor countered that he brought in $20 million in net new assets.

Senate Democrats hammered William Dudley, president of the Federal Reserve Bank of New York, at a highly anticipated hearing on Friday, demonstrating the growing pressure the central bank is under to take harsher actions against banks and restrict examiners from defecting to institutions after leaving service.

Steven A. Cohen’s new firm will stop collecting employees’ best trading ideas for a central investment pool and rewarding them with a special bonus, a practice that the U.S. government said created wrong incentives at his former hedge fund SAC Capital Advisors LP.

The San Diego-based advisor allegedly participated in private securities transactions that resulted in two elderly investors losing more than $340,000.

There are no jurisdictional walls when it comes to the damaging effects of net asset value errors. This realization and the global collaboration taking place to address it are creating the new, global standard for "best practice" with or without the existence of domestic or foreign regulatory policy.

A FINRA arbitration panel ordered an ex-Merrill Lynch advisor to pay his former employer more than $400,000 in damages.

FINRA hands out 18-month suspension, $10,000 fine and $233,000 in 'disgorgement' for selling away and nondisclosure issues, documents say.

As the pace of cyberattacks increases, asset managers are taking a hard look at their cyber insurance coverage to make sure that it will cover them should they become a target.

As the pace of cyberattacks increases, asset managers are taking a hard look at their cyber insurance coverage to make sure that it will cover them should they become a target.

The two self-regulators are proposing rules that would require dealers as principals to disclose to customers a “reference price” of the same security traded that same day as well as the difference between that price and the customer’s price.