Regulation

A former UBS AG banker surrendered to U.S. authorities to face a 2011 indictment that he conspired to help wealthy Americans evade taxes by hiding accounts in a smaller Swiss regional bank.

Three investment advisory firms have been sanctioned by the SEC for repeatedly ignoring problems with their compliance programs.

The U.S. Securities and Exchange Commission voted unanimously to seek comment on a proposal to allow businesses to sell ownership stakes in their companies by soliciting investors over the Internet.

A former Merrill Lynch broker has been ordered to serve 38 months for allegedly bilking clients of almost $2 million.

Citing concerns, FINRA says it may make it harder for advisors to get records cleared.

CEO Jamie Dimon went to Washington almost a month ago to see if U.S. Attorney General Eric Holder would settle a criminal probe of mortgage fraud at the bank if it paid more money to resolve related civil investigations.

The CFP Board “cannot justifiably act as both a regulator for continuing education providers and as a CE provider themselves,” FPA president Michael Branham said to a burst of applause Sunday at the general session of the association’s annual conference.

Raoul Weil, the fugitive former head of UBS AG’s global wealth management business, was arrested in Bologna after checking into a hotel under his own name and triggering an alert to Italy’s authorities.

The SEC was handed a high-profile loss in a low-stakes case. A federal jury in Dallas yesterday rejected SEC claims that Cuban engaged in insider trading when he sold his stake in a Canadian Internet company nine years ago to avoid a $750,000 loss.

Fraud against the elderly is expected to rise as the nation's baby boomers near retirement. Bankers and regulators are keen on trying to get ahead of the issue.