Regulation

The Securities and Exchange Commission is seeking industry comment on a proposal to require broker-dealers to follow the same rules as transfer agents when it comes to finding so-called “lost shareholders.”

The short-selling fine comes after Southwest was nabbed for improperly soliciting municipal bond business.

Independent financial advisers are warning the Securities and Exchange Commission that the Municipal Securities Rulemaking Board’s proposed changes to Rule G-23 contain loopholes that would allow dealer-financial advisers to switch roles and become underwriters in the same muni transactions.

FDIC chairman Sheila Bair received not one but two standing ovations from the ICBA, a week after she was heckled by members of the industry's other main trade group.

A federal judge in Dallas ruled against a $21 million settlement between Securities America and class action plaintiffs.

Alternative investment funds which need to register with the Securities and Exchange Commission for the first ttime will find it a costly process, according to research firm Aite Group.

More investigation as to how a uniform fiduciary standard would affect consumers and the market is needed, a group of House lawmakers said in a letter to the SEC.

Securities and Exchange Commission officials are urging market participants to provide their views about the muni industry and how it can be improved, after the SEC was forced by budget cuts to suspend a series of field hearings that were to be held around the country.

Bankers are divided over the seriousness of a provision in the Dodd-Frank Act that would repeal Regulation Q and allow banks to pay rates for demand deposits.

The Financial Industry Regulatory Authority is developing a system that will tell its examiners and firms’ compliance officials whether firms that sold munis with material-event disclosures passed that information on to customers.