Regulation

A computer application deployed by the Charles Schwab Corporation that supported day trading online has flagged “cherry picking” of profitable trades by a Connecticut financial advisor

As the Republican convention kicks into high gear this week, don't expect the headliners to spend much time discussing the Dodd-Frank Act, much less its specific parts.

Commissioners Daniel M. Gallagher and Troy A. Paredes say proposed reforms to money funds “were unlikely to be effective.’’

Morgan Stanley and Citigroup have pushed the deadline for determining the fair market value of their Morgan Stanley Smith Barney joint venture to Sept. 10 as they wait for an independent appraisal to help reconcile their opposing values of the business

SEC Chairman Mary Schapiro may have lost the first round in her push to reform the $2.6 billion money market mutual fund industry, but the fight has only just begun.

Noelle Maloney, who was second in command of the U.S. Securities and Exchange Commission's troubled internal watchdog office, has left the agency.

Even as Merrill Lynch moved to a $40 million settlement in response to a class action lawsuit this week, some experts ask whether it will be enough to satisfy some several thousand advisors who left the firm following its acquisition by Bank of America.

Merrill Lynch formally agreed to a $40 million settlement to a class action lawsuit brought by two of its former advisors regarding their deferred compensation on Friday, a decision that will potentially impact more than a thousand advisors with production levels of $500,000 and less.

ICI President and CEO Paul Schott Stevens said the "exhaustive record" before the SEC did not support the changes that it was proposing.

Merrill Lynch is expected to head into a New York court Friday and hammer out a settlement that could potentially affect the deferred compensation of thousands of financial advisors that have left the firm since its 2008 combination with Bank of America.