Regulation

A FINRA panel has put Robert M. Jaffe, an embattled former broker who worked with Ponzi scheme mastermind Bernard Madoff, on the hook to pay $1.1 million in compensatory damages to Turbo Investors LLC.

Robert M. Jaffe has been ordered to pay $1.1 million plus interest to Turbo Investors LLC.

The Financial Planning Coalition has called on Congress to support the Securities and Exchange Commission in establishing a fiduciary standard of care for broker-dealers.

A FINRA arbitration panel has awarded former Merrill Lynch Co-President Ahmass L. Fakahany $1.2 million out of the more than $70 million in compensatory damages he sought from his former employer.

The basic roles and responsibilities of brokers, financial advisors and asset managers are in the early stages of what's sure to be a dramatic transition and the brokers and firms that are most adapt at adding new tools and technology will be the ones to prosper, according to a new report from Boston-based financial services consulting firm Financial Research Corp.

Ahmass L. Fakahany was awarded $1.2 million by a FINRA arbitration panel after he brought a claim seeking more than $70 million from his former employer.

Eileen Rominger, in her first appearance as the SEC's director of investment management division before a gathering of members of the mutual fund industry’s largest trade group, said that compliance with existing and forthcoming rules as well as robust regulation of these is essential to achieving and maintaining the trust and confidence of investors.

The establishment of a fiduciary standard that applies to how broker-dealers should care for their customers is not likely to come until after the one-year anniversary date of passage of the 2010 Dodd-Frank Wall Street Reform Act that required it.

PALM DESERT, Calif. -- The establishment of a fiduciary standard that applies to how broker-dealers should care for their customers is not likely to come until after the one-year anniversary date of passage of the 2010 Dodd-Frank Wall Street Reform Act that required it.

The special inspector general for Tarp will wrap up his two-year-plus tour on Wednesday, and he has nothing good to say about Treasury's implementation of the $700 billion bailout.