Regulation

ICI chief Paul Schott Stevens said Wednesday that mutual funds need to invest in commodities and derivative securities in order to manage market swings and protect everyday investors. He called new CFTC rule changes 'unwarranted, redundant and costly.'

FINRA has hired Robert Colby as its chief legal officer, replacing the broker regulating body's general counsel, Grant Callery, and its general counsel for regulation, Marc Menchel.

Large retirement plan providers tried to offer California’s teachers and other education workers simpler plan options, but the Financial Services Institute said it should not come at the expense of access to quality personalized investment advice.

Two groups representing mutual fund independent directors and trustees are joining together to voice their concerns about the changes to money market funds currently being considered by the Securities and Exchange Commission.

Every year FINRA sends hundreds of inquiries to firms that are not broker-dealers, including RIA firms, about suspicious trading. How you respond is critical.

On May 3, two mutual fund groups vocied their concerns over the SEC’s money market fund proposals.

The 11th U.S. Circuit Court of Appeals in Montgomery, Ala., said a federal district judge in Atlanta erred in finding that the alleged misrepresentations made by Morgan Keegan brokers about the debt were not material. It sent the case back to the district court for more proceedings.

Joel Blumenschein, a Wisconsin RIA, has resigned from FINRA after settling a disciplinary case alleging he failed to supervise a broker at his firm.

UBS Financial Services Inc. of Puerto Rico and two of its executives have been charged by the SEC with misleading investors and its own financial advisors about the market risks associated with the sales of 23 closed-end mutual funds.

The four firms were fine a total of $9.1 million for not having adequate supervisory systems in place for billions of dollars of sales of leveraged and inverse ETFs.