Regulation

Massachusetts sent subpoenas to 15 brokerages including units of Bank of America Corp., Morgan Stanley and Wells Fargo & Co. as it investigates alternative- investment sales to seniors.

A FINRA panel ruled Wells Fargo’s lack of supervision allowed a third party to syphon funds from a client account.

The uniform fiduciary standard has become a holy grail of sorts for the financial advisor industry, but it's not quite that simple.

FINRA has delayed consideration of a highly contentious proposed rule on recruitment compensation disclosure.

The Financial Planning Coalition submitted a letter to the Securities and Exchange Commission saying it would "vigorously oppose" attempts to weaken the fiduciary standard for broker-dealers and submitted research showing a client-first standard does not limit advice to “mass market” clients.

The Securities and Exchange Commission’s custody rule governing investment advisors’ custody of client assets imposes various requirements and, in turn, costs on investment advisors, who often need to hire independent accountants to conduct surprise examinations, according to a new report by the Government Accountability Office.

Sen. Elizabeth Warren may have a reputation as the banking industry's toughest foe, but behind the scenes she's formed a growing alliance with community banks, a widespread and politically powerful group.

The Office of the Comptroller Currency ordered JPMorgan Chase to refund fees to certain retirement account customers whom it steered into its own mutual funds. The move reflected regulators' broader concerns about conflicts of interest in its giant asset management business.

It looks like Nationwide Mutual Insurance Company will have its day in court come January 2014 to defend itself against a mutual fund lawsuit.

A Philadelphia district court handed down a $100,000 fine and six-month prison sentence for allegedly unlawful trades.