Regulation

There is a new sheriff in town for the mutual fund industry-and he may need to borrow money for bullets.

The head of the Financial Services Institute has delivered a pointed letter to House committee leaders criticizing the efforts of the Department of Labor in developing a new definition of the term "fiduciary" that would cover financial professionals providing advice to retirement plans.

Fund managers and financial advisors are looking to the cloud to reduce costs, enhance performance, and improve accessibility, but many questions remain.

Fund managers and financial advisors are looking to the cloud to reduce costs, enhance performance, and improve accessibility.

On a 3-2 vote, the federal regulator charged the nation's 13 exchanges and the Financial Industry Regulatory Authority to come up with a workable system for keeping track of all options and stock activity, before the start of the next trading day.

Five candidates will compete for three seats on FINRA’s board of governors.

The new suitability and Know-Your-Customer rules will present FINRA with the opportunity to bring a variety of enforcement actions against both firms and registered representatives. The types of cases will likely be similar to enforcement actions that FINRA has brought under the existing rules.

The new message focuses on a targeted approach to repealing certain provisions — rather than the whole law — and trying to convince everyday Americans they too will suffer the consequences of new rules for the financial industry.

A California Superior Court has denied an investor’s appeal of a March arbitration decision, including claims that one witness was unreasonably excluded and another witness was intimidated against testifying.

FINRA Rule 2090 will impose a new requirement on many firms, that of “knowing your customer.” Firms that have not previously been subject to a Know-Your-Customer requirement are determining what facts it deems essential in connection with servicing an account.