Regulation

The independent securities regulator has put to rest an eight-year-old dispute, finding no violations in Citigroup’s advisor recruitment from Oppenheimer.

The panel’s decision also sent a signal to broker-dealers that financial advisors should perform much more thorough due diligence on the soundness of companies issuing certain securities before allowing investors to participate in risky investments.

The administration is expected to unveil this month a reform package that charts a course for the housing finance system. But it remains unclear how detailed the administration plans to be.

FINRA effectively backed up claims that Securities America breached its fiduciary duty and violated industry rules.

A FINRA arbitration panel has ordered UBS to cough up $2.8 million to settle a dispute with a former in-house recruiter.

Only half as many muni advisory firms are registered with the Municipal Securities Rulemaking Board compared to those registered with the Securities and Exchange Commission, even though advisory firms are now required to sign up with both regulators under the Dodd-Frank Wall Street Reform and Consumer Protection Act.

The Securities and Exchange Commission has extended by four months the date by which advisors must deliver information about their personnel to their clients to help them make the necessary operational adjustments.

The Financial Industry Regulatory Authority expelled APS Financial Corp., and barred its former president as well as its former broker from the industry. The move comes in response to an alleged scheme involving an elderly investor and markups on CMOs as well as other types of securities.

While 2010 was an all-out scramble by Democratic leaders to harness outrage over the financial crisis to push reg reform over the finish line, the legislative outlook for next year ...

Retirement plan providers will be able to sue more people and have a legal leg to stand on.