Regulation

In a business update to CFP holders, the board presents research on its Let's Make a Plan campaign, clarifies its fee-only position -- and skips a discussion of recent controversy.

Despite a recent show of political opposition, the Labor Department seems poised to press ahead with a proposal to broaden the definition of fiduciary to cover advisors working in the retirement plan segment, a leading opponent of the measure warns.

BofA Should Pay $863 Million in Fannie Mae Case, U.S. Says

FINRA's Watch Over Funds

Bank of America should pay the maximum penalty of $863 million for selling defective loans to Fannie Mae and Freddie Mac, given the egregiousness of the fraud, U.S. prosecutors told a federal judge.

Firms need technology resources and budget allocation if they want to create a social media program for their advisors.

A former JPMorgan Chase banker who managed Bernard Madoff’s account said the con man was on track to receive a $200 million loan less than a month before his arrest if the request hadn’t been dropped.

Janet Yellen, vice chair of the Federal Reserve Board and President Obama's pick to run the central bank, will appear before the Senate Banking Committee on Nov. 14.

State securities regulators have been ramping up examinations of investment advisors in the aftermath of the Dodd-Frank Act, which required more than 2,000 midsized advisors who had been overseen by the feds to register with state authorities.

Currencies and commodities were added to a list of financial products and related activities that are subject to investigation, according to a regulatory filing published by the New York-based company today.