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The Securities and Exchange Commission charged a Colorado investment adviser with deceiving elderly clients about the safety of putting their money into hedge funds.

Global volume in derivatives, however, is up 8.4%.

The SEC is likely to revise its approach to circuit breakers 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.

The Securities and Exchange Commission will kick off its much-awaited series of hearings on the municipal market this month, holding the first on Tuesday, Sept. 21, in San Francisco.

PineBridge Investments has appointed E. Mervyn Davies, the United Kingdom’s previous minister of state for trade, investment and small business, as a new non-executive chairman at the New York-based money management firm.

Ridgemont Equity Partners, a Charlotte financial sponsor, has been an active buyer this summer of companies worth $10 million to $100 million, and it has plenty of company.

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.

As part of its initiative to expand and develop its asset management business, Morgan Stanley announced it added Sophia Drossos to its global macro and asset allocation group

Putnam Investments requested Congress pass two recently-introduced bills that would require employers to automatically enroll employees in a payroll-deduction IRA.

The 10-minute, quick-hit survey rates asset management companies on how well prepared they are to introduce new products and enter new geographical markets.

Represented by an influential lobbying group, broker-dealers are striking out against proposed regulations which would require them to adhere to an equal “fiduciary” standard with registered investment advisors in giving advice to retail investors.

The credit rating agency is seeking input from market participants on a new five-point rating scale that indicates how the funds might perform during market duress.

JPMorgan Securities picked up a $3-million team of veteran advisors from Morgan Stanley Smith Barney.

Aviva Investors announced Tuesday it hired Pat O’Brien as chief executive officer of Aviva Investors North America Inc.

Moody’s has created a new five-point rating scale for money market funds to take into account factors that proved to be critical in the credit crisis, including: a fund portfolio’s underlying asset quality, ability to preserve principal while providing liquidity, susceptibility to market risk and the likelihood of support from its sponsor in the event of a “run” on the fund.

While Union Bank of California is having a good year in terms of brokerage revenues, it isn’t having much luck holding onto sales managers, according to sources.

The initiative by the Toronto-based company is designed to create a fourth business line as part of its strategy to develop a strong fee-based business for managing assets.

The creator of the highest daily value rider saw bank sales shoot up by 144% year-over-year in the second quarter.

The Boston fund company said that legislation in both the Senate and the House could extend retirement savings coverage the “nearly half of all American workers who have no retirement savings plans through their jobs today.”

Investors continue to stuff cash into municipal bond mutual funds, exacerbating a supply-demand imbalance that has kept yields on tax-exempt bonds near historic lows.