Compliance

Western Asset Management, a unit of Legg Mason, will pay more than $21 million to settle charges of defrauding clients, the SEC said.

The Federal Reserve Board on Friday announced additional supervisory expectations for eight of the largest U.S. banks as part of their preparedness for future crises.

President Obama is far removed from his harsh criticism of big banks coming out of the crisis, but his State of the Union speech Tuesday night could still provide a crucial glimpse into the administration's thinking on financial policy issues.

Writing an investment policy statement can increase client satisfaction, investment returns and facilitate an advisor's fiduciary duty.

M&T's sidelined purchase of Hudson City has become cautionary tale in a new regulatory environment for acquisitions.

Regulators' attempt to carve out an exemption for small banks from a key part of the Volcker Rule satisfied most institutions that feared getting swallowed up in the Dodd-Frank Act provision, but left others still vulnerable to the regulation and facing significant losses.

Gearing up for more stringent regulations ahead, SIFMA is calling on regulators to better coordinate efforts and craft a business-model neutral fiduciary standard.

A former JPMorgan Chase executive was barred from the brokerage industry for allegedly passing inside information on corporate mergers to a friend, FINRA said.

Two Florida planners have asked the court to sanction the CFP Board. The organization calls the suit "without merit" and declined to answer dozens of questions in the first deposition.

The FPA and other organizations calling for stricter regulatory oversight of investment advisors reacted with dismay to the omnibus federal spending bill unveiled this week, which they say will leave the SEC unable to effectively police the industry and protect investors.

Senate Democrats' decision to change filibuster rules has shifted the composition of a powerful federal appeals court, a move that could bolster the banking agencies against future industry challenges to the Dodd-Frank Act.

Federal regulators released an interim final regulation late Tuesday designed to fix a problem with the Volcker Rule that would have caused hundreds of banks to take writedowns on certain assets.

JPMorgan Chase's quarterly profit fell 7.3% on $2.6 billion of settlements tied to Bernard Madoff's Ponzi scheme as rising legal costs ended the firm’s three-year streak of record annual earnings.

A report by the U.S. Treasury's Office of Financial Research on asset managers and systemic risk is inaccurate and should not be relied on for policy decisions or regulatory action of any kind, says the Investment Company Institute's General Counsel Karrie McMillan and Chief Economist Brian Reid.

Certain securities salespeople are giving the brokerage industry a bad name by putting clients into manifestly unsuitable securities, namely leveraged and inversed ETFs, which are attracting wary and watchful eyes among U.S. regulators.

Self-employed individuals and small-business owners may not meet the requirements of new mortgage rules that went into effect Friday and could face hurdles obtaining new home loans.

The SEC is putting advisors on notice that its examiners will cast a wide net in their reviews of investment advisors over the coming year.

The CFP Board announced this week that it's shortening its CFP certification exam and transitioning to a computer-based testing platform.

New York Attorney General Eric Schneiderman said the probe that led to his settlement with BlackRock Inc. over analyst surveys is looking at brokerage firms and individuals who provided nonpublic information that could have been used to trade.

FINRA alleges that the firms' advisors sold two types of highly risky ETFs that even they didn't understand.