Regulation

The lack of appointments to key jobs created by Dodd-Frank makes you wonder what the administration is thinking, and more specifically how much power Geithner is amassing.

Industry participants say brokers have made a lot of progress toward meeting new cost-basis reporting requirements from the Internal Revenue Service, which take effect in January 2011.

At 91%, the overwhelming majority of retail investors support a fiduciary standard for all financial advisers, according to a survey of 1,319 investors by Infogroup/ORC.

While the investment industry may be in two minds about how the SEC should proceed, investors are in no doubt that advisors should act in their best interest.

Senate Democrats largely supported the idea of appointing Elizabeth Warren as the temporary head of the Consumer Financial Protection Bureau, with one key exception — Banking Committee Chairman Chris Dodd — who joined Republicans in arguing such a move would be a "mistake."

The White House is considering appointing Elizabeth Warren as interim head of the Consumer Financial Protection Bureau, bypassing a likely Senate confirmation battle.

FINRA today announced it has censured and fined New York-based Trillium Brokerage Services LLC $1 million for using “an illicit high frequency trading strategy and related supervisory failures.”

FINRA has censured and fined the New York-based brokerage firm $1 million for using an illicit high frequency trading strategy and related supervisory failures.

The Securities and Exchange Commission is likely to revise its approach to circuit breakers on the nation's equities exchanges, to include a "careful review" of price bands that limit how far up or down the price of a stock can move at any given time.

Two influential advisor trade groups-the Securities Industry and Financial Markets Association and Financial Planning Coalition, which consists of the Certified Planner Board of Standards, the Financial Planning Association and the National Association of Personal Financial Advisors-finally sent in their comment letters to the Securities and Exchange Commission regarding Section 913 of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, on a blanket fiduciary standard for all financial advisers.