Compliance

Morgan Stanley and Co. has agreed to pay $100,000 to the New Jersey Bureau of Securities. This came after Bureau investigators found the company was in violation of state securities laws and regulations in its sale of non-traditional exchange-traded funds to investors.

A British charity sued a Bank of New York Mellon Corp. unit that managed its funds, saying risky investments caused losses of about 7.9 million pounds ($12.2 million).

Bank of America Corp.’s traders fought off efforts by the firm in 2007 to include risky Alt-A mortgages in a securitization. That wasn’t enough to spare investors from being cheated, according to th

Views are mixed on the impact of the recent Securities and Exchange Commission decision to lift the general solicitation ban on private securities offerings.

Edward Jones’s James Weddle and Robert Keenan of St. Bernard Financial Services Inc. were elected to the Financial Industry Regulatory Authority’s Board of Governors at its annual meeting.

Edward Jones’s James Weddle and Robert Keenan of St. Bernard Financial Services Inc. were elected to the Financial Industry Regulatory Authority’s Board of Governors at its annual meeting.

UBS AG will pay almost $50 million to settle U.S. Securities and Exchange Commission claims that a brokerage unit violated securities laws in the structuring and marketing of a collateralized debt obligation.

The Consumer Financial Protection Bureau is losing senior officials faster than it can replace them, raising concerns that the agency may struggle to maintain the aggressive pace set during its nearly two years of existence.

In recent months more than a dozen senior officials have left the agency, including its chief of staff, Garry Reeder, and chief operating officer, Victor Prince.

A FINRA arbitration panel has ruled that Citigroup and one of its former branch managers must pay an investor more than $11 million combined in compensation for losses related to an investment in a foreign bank.

A FINRA panel has ordered Citigroup and a former branch manager to pay a combined $11 million in remuneration.

The CFP Board is hosting a webinar on "how to avoid misleading compensation disclosures" -- the very issue at the heart of the board's public sanction of former CFP Board Chairman Alan Goldfarb.

Morgan Stanley and Co. has agreed to pay $100,000 to the New Jersey Bureau of Securities. This came after Bureau investigators found the company was in violation of state securities laws and regulations in its sale of non-traditional exchange-traded funds to investors.

Fund sponsors have long debated the relative merits of building, buying or outsourcing fund administration technology. As sponsors face more and more data-driven demands from regulators and investors, there is increased pressure to adopt new efficient technologies for fund administration process such as expense payments and budgeting, regulatory reporting and financial reporting. While there is no one-size-fits-all answer to the "build, buy or outsource" question a mix of cost pressures, resources, reporting requirements and technological advances have tipped the balance in favor of "buy" and "outsource."

These are stressful times for the mutual fund industry. An obvious statement, but one authored by a colleague ten years ago. Even more interesting is that the trends cited then are the same concerns that we hear from clients today. So what has changed?

Former U.S. Senate aides Michael Piwowar and Kara M. Stein won confirmation as members of the Securities and Exchange Commission. The current SEC chairman Mary Jo White was also confirmed to a full term that expires June 5, 2019.

A federal judge has dismissed a Texas community bank's case against key parts of the Dodd-Frank Act, arguing the institution, as well as the 11 states and two conservative groups backing it, have no legal ability to challenge the 2010 financial reform law.

U.S. District Judge Ellen Segal Huvelle said the case was "not ripe for review" because the bank and others could not prove financial injury resulting from the new law.

One of the leading contenders to be the next chairman of the Federal Reserve, Lawrence Summers, has been a paid consultant to Citigroup and other financial institutions. Opponents of his nomination are sure to seize upon this.

The government should strip U.S. stock exchanges of the legal status that protects them from most lawsuits, a trade group for brokers said.