Regulation

The Securities and Exchange Commission on Wednesday unanimously agreed to propose reforms for money market funds to make them less susceptible to runs, such as those that occurred in 2008 when Reserve Primary Fund "broke the buck" and investors pulled $300 billion from other prime money market funds.

Some of the U.S.’s largest providers of money-market mutual funds have sought a compromise on new regulation, making adoption of tougher rules for the $2.6 trillion industry more likely if far from a sure bet.

Former U.S. Senator and new SIFMA CEO Judd Gregg tells On Wall Street why the legislation is the wrong type of law.

Bank of America Corp. and Wells Fargo & Co. were ordered to pay about $5.2 million in fines and restitution by the Financial Industry Regulatory Authority over sales of loan funds.

Bank of America Corp. and Wells Fargo & Co. were fined by the Financial Industry Regulatory Authority over sales of loan funds.

Regulation should be strong enough to protect investors yet business-minded enough to promote active derivatives, mortgage and other markets, says Judd Gregg, a former New Hampshire lawmaker and new chief executive of the Securities Industry and Financial Markets Association.

ING U.S. announced last week that the underwriters in its initial public offering have exercised their overallotment option to purchase approximately 9.8 million additional shares of ING U.S. from ING Group at the IPO price of $19.50 per share.

The ICI has a new director of Financial Services Policy.

Regulatory efforts to change Community Reinvestment Act rules — unveiled three years after nationwide public hearings on the subject — are far too timid, according to consumer groups.

Changes in ERISA rules could make life more difficult for advisors to promote 401(k) plans to employers.