Regulation

The Financial Industry Regulatory Authority announced Tuesday it suspended indefinitely Pinnacle Partners Financial Corp., of San Antonio, Texas, and its president, Brian K. Alfaro, for failing to comply with a FINRA temporary cease and desist order “prohibiting their fraudulent misrepresentations.”The suspension resulted from FINRA’s notice of suspension that alleged that Pinnacle and Alfaro continued to make fraudulent oral and written misrepresentations and omissions in connection with their offer and sale of certain oil and gas joint interests. The temporary order was issued on Jan. 21.

The Financial Industry Regulatory Authority announced Tuesday it suspended indefinitely Pinnacle Partners Financial Corp., of San Antonio, Texas, and its president, Brian K. Alfaro, for failing to comply with a FINRA temporary cease and desist order “prohibiting their fraudulent misrepresentations.”

The FDIC engaged in an activity that paints an alternate history detailing how it might have handled the collapse of Lehman Bros. if its new reform powers had been in place.

FINRA has fined UBS Financial Services $2.5 million and ordered to pay $8.25 million in restitution for conduct related to the sale of Lehman Brothers Holdings principal protection notes.

The Securities and Exchange Commission on May 10 plans to hold a roundtable discussion on how to guard against systemic risk involving money market funds, the investment industry's $2.8 trillion alternative to checking accounts.

Six days after the Securities and Exchange Commission holds its roundtable discussion regarding money market funds and systemic risk, the Investment Company Institute (ICI) will host its own one-day money market fund summit.

Six days after the Securities and Exchange Commission holds a roundtable discussion regarding money market funds and systemic risk, the Investment Company Institute (ICI) will host its own one-day money market fund summit.

Bankers are divided over a Federal Deposit Insurance Corp. plan to train bank employees on insurance limits and require tellers to question depositors about their accounts.

Six days after the Securities and Exchange Commission holds a roundtable discussion regarding money market funds and systemic risk, the Investment Company Institute (ICI) will host its own one-day money market fund summit.

A House oversight committee hearing slated to examine state and municipal debt Thursday devolved into an extended debate about collective bargaining, featuring two sitting governors from opposite ends of the political spectrum.