Regulation

On August 10, 2012, The Securities and Exchange Commission Friday charged a Florida-based investment manager and his firm for failing to provide SEC examiners with records of a mutual fund advisory business that invested in NASCAR-related stocks.

FINRA levied almost $40 million in fines in the first half of the year and will likely doll out as much or more through the end of the year.

The Municipal Securities Rulemaking Board released a proposal Thursday aimed at increasing protection for retail investors who trade municipal bonds online.

A key government witness against three former UBS AG municipal-bond executives in a bid-rigging trial called one of the defendants an "idiot" and was asked today whether he disliked him so much that he put photos of tortured cats on his desk.

On August 8, 2012, Mary Schapiro, chairman of the Securities and Exchange Commission, is looking to turn $2.6 trillion money-market mutual-fund industry on its head.

A former UBS AG municipal-bond executive told an ex-colleague to forget about a transaction as they discussed how to handle an expanding government probe of bond big rigging, the second man testified at trial.

Sandy Weill's call to break up the big banks by restoring the Depression Era law has sparked a backlash among some who argue it would not help prevent the next crisis.

On August 8, 2012, David Wray, president of the Plan Sponsor Council of America, will retire from his post as president of the PSCA at the end of September.

FINRA has fined Wedbush Securities $300,000 and levied an additional $25,000 fine and suspension for its president, Edward Wedbush.

On August 7, 2012, Morrison & Foerster has added two Of Counsels to its Denver office.