Regulation

SunGard has launched a Wealth Management Regulatory and Risk Consulting Practice, part of its Wealth Management Global Services.

Federal agencies are set to establish sweeping new servicing standards not by legislation or regulatory process, but by a major action against the top five mortgage servicers.

Criminal charges were filed Thursday against a former financial adviser at UBS Financial Services who the Securities and Exchange Commission charged with siphoning $3.3 million from investors to pay for luxury cars, prostitutes and gambling debts.

Four more members of Congress have sent letters to the SEC expressing concerns or raising questions about provisions in its proposed muni advisor registration rules that would treat state and local appointed board members as muni advisers who would be subject to registration and regulation.

The more you hear about the SEC examination process, the more you realize that the examiners can't quickly recognize the honest advisors from the crooks, and are generally more interested in finding fault with the honest advisors than identifying the crooks.

Criminal charges were filed Thursday against a former financial advisor at UBS Financial Services whom the Securities and Exchange Commission charged with siphoning $3.3 million from investors to pay for luxury cars, prostitutes and gambling debts.

The Securities and Exchange Commission charged a hedge fund manager with diverting investment proceeds of over $12 million into other funds, which he then used to fund a real estate venture and a San Francisco record company.

The Securities and Exchange Commission on Wednesday unanimously agreed to propose amendments to its Rule 2a-7 that would remove all credit rating references from the rule, which requires money market funds to invest in high-quality and very liquid short-term securities.

Even if the Dodd-Frank financial reform law is implemented flawlessly, two men in a position to know say it won't be enough to stop another financial crisis.

Despite controversy over a proposal to reign in the bonuses of Wall Street executives, the Securities and Exchange Commission voted 3-2 to issue for comment a plan to reduce incentives and prohibit institutions from maintaining compensation arrangements that encourage “inappropriate risks.”