Regulation

Eight former Morgan Keegan & Co. mutual-fund directors agreed to settle U.S. regulatory claims that they allowed assets backed by subprime mortgages to be overvalued as the housing market collapsed in 2007.

Massachusetts-based financial advisors could soon have to submit to a criminal background check under a proposed reform to the registration process in that state.

The House Ways and Means Select Revenue Measures Subcommittee held a hearing this week to discuss possible tax reforms on financial products such as derivatives.

Norm Champ, director of the Securities and Exchange Commission's Division of Investment Management, last week took the first steps in meeting and speaking with members of the Investment Company Institute.

PALM DESERT, Calif.-Norm Champ, director of the Securities and Exchange Commission's Division of Investment Management, last week took the first steps in meeting and speaking with members of the Investment Company Institute.

Collaboration between the Division of Enforcement and the Office of Compliance Inspections and Examinations at the Securities and Exchange Commission "really is very seamless," according to OCIE director Carlo V. di Florio.

PALM DESERT, Calif.-Norm Champ, director of the Securities and Exchange Commission's Division of Investment Management, last week took the first steps in meeting and speaking with members of the Investment Company Institute.

ICI Global has hired Elizabeth Todd as Director of Global Legal Affairs. Todd hails from the Financial Services Authority, where she was the Alternative Investment Funds Management Directive policy lead on the investment funds team.

“The primary reason for the drop-off in fines was because there were no auction rate securities cases in 2012,” said Brian Rubin, partner in the Washington, D.C., law firm Sutherland Asbill & Brennan.

Regulators and academics are starting to look at low volatility as an integral part of the buildup toward financial meltdowns.