Regulation

The atmosphere at the hearing reflected how polarizing a figure Warren has become, being portrayed either as a symbol of overreaching government or a defender of the consumer.

Now that Bank of America has bought itself out of a massive class action over the sorting of overdraft fees, its fellow banks need to decide if they hold an advantage that B of A did not.

The broker industry’s chief regulator said Tuesday that its examiners will spend more time on “open-ended thematic reviews” that can identify where controls on financial risks break down.

The Financial Industry Regulatory Authority fined Chicago-based Nuveen Investments $3 million for creating and distributing misleading brochures to promote the sale of auction rate preferred securities.

The Financial Industry Regulatory Authority fined Chicago-based Nuveen Investments $3 million for creating and distributing misleading brochures to promote the sale of auction rate preferred securities.

By listening to what individual investors are saying, wealth management firms can better serve various age demographics and clients, Bank of America President of Global Wealth Investment Sallie Krawcheck said at a FINRA panel.

Two big-bank executives said that unless Congress delays Dodd-Frank's cap on debit interchange fees, they are ready with options for new consumer and merchant fees.

While Congress, the SEC and individual states continue to work out the precise definition of a fiduciary and precisely what his or her requirements will be going forward, RIAs and other financial services professionals still need to take it upon themselves to implement best practices that will ensure they'll be in compliance whenever these new regulations are finalized.

FINRA has launched FINRA Disciplinary Actions Online, a searchable system that will give the public access to disciplinary actions for firms and registered representatives. It also adds another layer of transparency into the brokerage and financial advisory industry, on a firm and individual level.

Information on the original cost basis of stocks purchased by investors can now be transferred automatically in roughly 97% of cases.