Regulation

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.

Community banks oppose capital One Financial Inc.'s proposed $9 billion acquisition of ING Direct USA, saying it would increase systemic risk.

The president's once warm relationship with the largest American banks has been fractured.

Taxpayers Beware: Gifts to charities have come under IRS scrutiny.

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.

The Financial Industry Regulatory Authority has hit Raymond James & Associates and Raymond James Financial Services Inc. with an order to pay $1.69 million in restitution to more than 15,500 customers who were charged unfair commissions.

A Long Island-based investment advisor repeatedly lied to investors to conceal the fact that his PIPE investment and trading strategy was failing during the financial crisis and stole more than $1 million in client assets to buy personal luxury items including a Lexus, a Mercedes and a Rolex watch, according to the SEC.

The Financial Industry Regulatory Authority has hit Raymond James & Associates and Raymond James Financial Services Inc. with an order to pay $1.69 million in restitution to more than 15,500 customers who were charged unfair commissions.

The Securities and Exchange Commission has charged a San Francisco-area investment advisor with fraud for allegedly lying to clients about how brokerage commission rebates were being used and then providing phony documents to cover up the so-called “soft-dollars” scam during an SEC examination.

Now that the Department of Labor is back at the drawing board trying to determine what should constitute a fiduciary under 1975 ERISA amendments, the industry wants to make at least one point clear: investors should have good choices, regardless of the business model their advisors use.