Regulation

The SEC 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.”

Chairman Mary L. Schapiro said Wednesday the SEC should consider making reviews of automated systems used in the exchange of stocks and other investments mandatory. The mandate would be an outgrowth of Automation Review Policies issued a quarter century ago, after the Black Monday crash on Wall Street in 1987.

The more than $113 billion New York City Pension Funds have been granted right of passage by the Securities and Exchange Commission to present a foreclosure request on big bank shareholder ballots.

Dodd-Frank laid out a plan for applying separate supervision for the largest, most complex financial companies. Congress ought to do the same for the simplest and the smallest.

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.