Regulation

Because of its increasing complexity and impacts on financial firms beyond banks, firms that run registered investment funds are suggesting that the Volcker Rule gets ‘re-proposed’ before it goes into effect in July.

The operator of the Frankfurt Exchange, Eurex derivatives market and Clearstream clearinghouse plans the suit in order to recoup some of its merger costs and to clear the way to potentially make a future deal in which it could expand its derivatives operation.

FINRA slammed Citi International Financial Services with a $600,000 fine for charging excessive markups and markdowns on corporate and agency bond transactions.

Commissioner Elisse Walter told fund industry executives Monday to re-engage with the Securities and Exchange Commission on a new round of reform of money market mutual funds – and end its “unconstructive disengagement’’ on the subject.

On April 6, the comment period on FINRA’s proposed changes to its BrokerCheck system will close, though there is still much debate and controversy about some of the proposed changes. Compliance consultant and securities attorney Jennifer Woods Burke shares her thoughts on the subject with Financial Planning.

Mutual funds may soon report not just to the Securities and Exchange Commission but the Commodity Futures Trading Commission as well, in some circumstances.

One giant leap for entrenching investor and consumer fraud in our financial system after a federal appeals court rules that a federal judge overstepped his authority in rejecting a settlement between Citigroup and the SEC.

Rex Staples’ securities enforcement experience and his background in securities law will be “a great asset” to the CFP Board, said Kevin Keller, the board’s CEO.

California-based investment advisor James Michael Murray allegedly defrauded investors using a bogus report from a fictitious auditing firm to embellish the performance of a hedge fund, according to the SEC.

Private company share trader SharesPost and its chief executive, Greg Brogger, have agreed to pay penalties, of $80,000 and $20,000 respectively, to settle charges that the firm facilitated securities transactions without registering with the SEC as a broker-dealer.