Regulation

Bernie Madoff and financiers of his ilk have changed the landscape for hedge fund managers forever.

The Securities and Exchange Commission has accepted settlement offers from three former officers of New Century Financial Corp., the subprime lender that was one of the first to collapse at the start of the subprime mortgage crisis.

Following the SEC's unanimous vote to shed light on 12b-1 fees, the consumer press is now running with the story. An Associated Press story over the weekend provides something of a "crib sheet" on how the fees were first instituted in 1980, and how much investors are unwittingly paying for the services these fees cover.

The Securities and Exchange Commission Thursday charged Citigroup with misleading investors about its exposure to subprime mortgage-related securities.

In their first presentations to analysts after the financial reform bill passed, some bank executives treated the landmark legislation like any other facet of business, sandwiching relevant cost estimates between the usual slides on capital ratios and credit losses.

After nearly a month of delays, the Senate was expected to pass a bill late Wednesday that would create a $30 billion small-business lending fund.

The Securities and Exchange Commission has begun to seek comment on the fiduciary standard of care that broker-dealers and investment advisers are to provide customers in giving advice about investing in securities.

If the administration was looking to the more than 300 public comments for guidance in crafting a future for Fannie Mae and Freddie Mac, it better have a Plan B.

CHICAGO — CIFG Assurance North America Inc. on Monday sued Assured Guaranty Corp., charging it with breach of contract violations for reneging on its obligation to cover the policy on $83.3 million of Xenia Iowa Rural Water District bonds as part of its 19-month-old reinsurance agreement.

The Securities and Exchange Commission on Tuesday asked the financial services industry to comment over the next 30 days on whether there should be different sets of rules for broker-dealers and investment advisors vis-à-vis personalized investment advice to retail investors.