Compliance

The U.S. Supreme Court turned away a Wells Fargo unit’s bid for as much as $148 million in tax refunds, leaving intact an Internal Revenue Service victory in a corporate tax-shelter case.

Credit Suisse Group AG, Switzerland’s second-biggest bank, is considering selling additional stakes in an electronic interest-rates trading unit it set up last year, according to a person briefed on the plan.

The battle over a likely criminal plea and fine against French-based BNP Paribas is raising fresh questions not just about "too big to jail," but about the efficacy of cross-border resolution plans for systemically important institutions.

FINRA slapped the investment banks with $1 million each in fines for submitting incorrect data on trade-related transactions.

Kweku Adoboli, the former UBS AG trader who caused a $2.3 billion loss through unauthorized trading, is trying again to get permission to overturn his conviction and seven-year sentence.

A report released by the chair of the Senate Budget Committee argues that tax reform should raise revenue by cutting tax expenditures that mostly benefit the wealthy.

The Labor Department is one regulator that hasn't immediately fallen into line to give Credit Suisse Group a pass following its May 19 guilty plea for helping Americans evade taxes.

If the relationship is confidential, disclosing even public information about clients is a no-no.

With new regulations on the horizon, a top FINRA official highlights the agency's efforts to establish a more flexible oversight regime that will be less of a drain on a practice's resources.

'It's like rolling through a stop sign and you get the death penalty,' says the lawyer for Florida advisor Max Zavanelli.

BlackRock’s Fink Says Leveraged ETFs May ‘Blow Up’ Industry

Critics of the DoL's effort to extend fiduciary responsibilities to retirement plan advisors scored a victory this week when the agency disclosed that it is pushing back the rollout of its proposal until at least next year.

Advisors recount efforts to help troops, being rebuffed by the military and their hope for change.

Following an investigation by Financial Planning that showed a strong link between money woes and troops taking their own lives, a lawmaker pushes for additional funding to help them get comprehensive financial advice.

Morgan Stanley sued to recover more than $3.6 million it paid to defend a former broker who was imprisoned for his role in a kickback scheme.

Two issues that advisors have been closely watching are near the top of the commission’s list; namely, efforts to expand oversight of RIAs and enacting stabilizing reforms for money market funds.

The world’s biggest bond dealers, including JPMorgan Chase & Co. and Morgan Stanley, failed to properly report trades to the industry’s price-tracking system more than 11,000 times. JPMorgan’s penalty: About three minutes of its annual profit.

The fund association maintains the industry is already heavily regulated, and in the event of failure a single fund can exit the market in an orderly process with little disruption, unlike banks.

'We were not as proactive as we should have been,' the CFP Board says, rolling out two initiatives aimed at resolving advisors' incorrect fee-only disclosures on its website.

FINRA CEO Richard Ketchum praised one SEC commissioner for floating a new proposal to beef up examinations of the RIA industry independently of Congress.