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A top official with the Labor Department defended the controversial plan to expand the definition of "fiduciary" to cover people providing advice to retirement plans on a commission-based model, a proposal strongly opposed by industry groups representing independent broker-dealers and advisors.
October 4 - Money Management Executive
Merrill Lynch, Pierce, Fenner & Smith Inc. has been fined $1 million for supervisory failures that allowed a Texas broker to run a Ponzi scheme.
October 4 -
Merrill Lynch, Pierce, Fenner & Smith Inc. has been fined $1 million for supervisory failures that allowed a Texas broker to run a Ponzi scheme.
October 4 - Money Management Executive
The Securities and Exchange Commission is warning broker-dealers it will scrutinize the procedures they use to ensure they don't run afoul of the new market access rule when dealing in subaccounts used by disreputable day traders.
October 3 - Money Management Executive
The nation's stock exchanges and the Financial Industry Regulatory Authority are filing proposals that will trigger halts in trading, marketwide, more quickly, the Securities and Exchange Commission said. The changes are proposed for marketwide "circuit breakers," which key off drops in the Dow Jones Industrial Average.
October 3 -
The Securities and Exchange Commission is warning broker-dealers it will scrutinize the procedures they use to ensure they don't run afoul of the new market access rule when dealing in subaccounts used by disreputable day traders.
October 3 -
Community banks oppose capital One Financial Inc.'s proposed $9 billion acquisition of ING Direct USA, saying it would increase systemic risk.
October 1 -
The president's once warm relationship with the largest American banks has been fractured.
October 1 -
Taxpayers Beware: Gifts to charities have come under IRS scrutiny.
October 1 -
Our legal expert explains the ins and outs of setting up a backup plan to service an advisor's clients if he or she is unable to do so.
October 1
