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Nearly 1,200 banks have been hit with an enforcement action made public by federal regulators since the start of 2008, and that number is expected to climb at an accelerated rate.

Vanguard has dropped AXA Rosenberg Group as a sub-advisor of the Vanguard Explorer, Vanguard U.S. Value and Vangaurd Market Neutral funds, replacing the oversight with its own Quantitative Equity Group, Vanguard said Thursday.

WASHINGTON — Though the Dodd-Frank regulatory reform law designed separate rules for large and small institutions, covering everything from capital to stress tests to consumer protection, a consensus is growing that the higher standards for bigger institutions will eventually apply to everyone else.

Merrill Lynch agreed Wednesday to pay $728,260 in civil penalties for allowing unregistered client associates to sell securities in states where they were not permitted to do business, said New Jersey’s Attorney General Paula Dow. Client associates serve as sales assistant to one or more financial advisors.

Merrill Lynch is set to pay New Jersey $728,260 in civil penalties and change its business practices to be in compliance with state law.

The new product will focus on credit opportunities in emerging markets.

International ETFs hauled in $22.6 billion, while fixed-income remains an investor staple, with a $5.9 billion gain.

Perkins Investment Management has hired Ron Zia, an institutional investment consultant with nearly 20 years under his belt, to be a new client portfolio manager at the Janus Capital Group subsidiary.

M&I's plan to expand its trust services nationally, plus executive changes at Citi and BNY Mellon, and more moves from the past week.

The head of the BlackRock product team for exchange-traded funds is urging the SEC and CFTC to establish circuit breakers across all exchanges that were uniform for both stocks and ETFs.

Three-quarters oppose cutting Social Security to reduce the deficit as the government program celebrates its 75th anniversary.

Calvert Foundation CEO and President Shari Berenbach will resign from the lead post she has held at the non-profit organization for nearly 14 years. Current Executive VP and Chief Lending Officer Lisa Hall will replace her in the interim.

The ramifications of a federal court's order for Wells Fargo to repay $203 million in overdraft fees extend far beyond the price tag one company has to pay for its California operations.

The proposal, which would only apply to banks supervised by the agency, said institutions should give customers the chance to opt out of overdraft programs for their checking accounts and any automated clearing house transfers, as well as monitor overdraft usage to avoid unfair consumer fees.

Three out of every four adults age 18 or older are factoring in Social Security income when planning ahead for their retirement, according to a survey released Wednesday by AARP. Even among younger people aged 18 to 29, 62% expect to rely on Social Security.

Scout Investment Advisors Inc., a division of UMB, announced Wednesday that it hired Andrew Iseman as its chief executive officer.

The Fidelity Charitable Gift Fund reported on Wednesday that its donors made more than 152,000 grants totaling $531 million during the first six months of 2010, the strongest first half for outgoing grants in the Gift Fund’s 19-year history.

New survey finds baby boomers are willing to spend less now in order to live the “good life” in retirement.

The Securities and Exchange Commission is looking at such mechanisms as price collars and limits on upward or downward movements in a stock in a single day, in the wake of the May 6th "flash crash."

Royal Bank of Scotland announced on Tuesday that it hired Rory Tapner as CEO of its Wealth Division.