Regulation

ProShares this week got some good news from the United States District Court for the Southern District of New York, which dismissed, in its entirety, the class action lawsuit filed against the firm in 2009.

The Financial Services Authority has fined BlackRock Investment Management (UK) Limited £9,533,100 (US$15.2 million) for failing to adequately protect its clients’ money market deposits and for failing to have controls in place to protect its money market deposits.

Even with Wall Street and consumer advocates allied in pushing for it, a U.S. Securities and Exchange Commission proposal to raise standards for brokers advising retail investors has run aground.

Multi-manager shop Virtus Investment Partners has added Rampart Investment Management, which specializes in customized options strategies for institutional and high-net-worth clients, as a wholly owned affiliate of Virtus.

There's no rest or relaxation for operations managers, as fund firms adjust to life in an era of worldwide financial reform.

Risk management and regulatory reporting.

Loomis Sayles is making a hasty name change to one of its funds after losing out on a federal lawsuit.

The SEC has obtained a $1.1 million settlement from Portland, Ore., based planner Christopher Keil Hicks and two of his companies on charges they failed to disclose a revenue-sharing agreement and other conflicts with his clients.

The Securities and Exchange Commission has settled an administrative proceeding against two Portland, Oregon-based investment advisory firms regarding their failure to disclose a revenue-sharing agreement and other potential conflicts of interest to clients.

The SEC filed a cease-and-desist order against noted investment advisor and radio personality Ray Lucia, alleging a series of misleading statements in retirement-strategy seminars plugging Lucia's "buckets of money" strategy.