Compliance

A Detroit investment adviser will pay $3.1 million to settle U.S. Securities and Exchange Commission claims that he stole money from a police pension fund to finance his purchase of two California strip malls.

“Nothing I did in the last five years had anything to do with selling on a commission basis,” he told Financial Planning.

The Securities and Exchange Commission last week unveiled its money market fund proposals that, in part, seem to have won the support of its biggest critic: the Investment Company Institute.

The Securities and Exchange Commission has improved how it justifies new regulations after at least five recent court defeats faulted its use of economic analysis, according to an audit by the agency’s inspector general.

The Securities and Exchange Commission has paid $580,000 to settle claims by a former internal watchdog that he was fired in an effort to quash his investigations.

One year after the "untimely" death of Richard Aster, founder of Larkspur, Calif.-based Aster Capital Investment Management, the investment advisor is selling off its assets.

The Securities and Exchange Commission has approved new Financial Industry Regulatory Authority rules that prevent mutual fund and hedge fund industry personnel from serving as public arbitrators, effective July 1.

The Securities and Exchange Commission last week unveiled its money market fund proposals that, in part, seem to have won the support of its biggest critic: the Investment Company Institute.

A slew of recent regulatory shifts is keeping examiners busy -- and advisors must know how to react when they get a call from FINRA or the SEC.

Regulators have formed a working group to enhance coordination between federal and state banking agencies on cybersecurity.

The Securities and Exchange Commission's long-awaited proposal to reform the money market mutual fund industry has left observers wondering whether the agency compromised too much in an effort to get a plan out the door.

A broad coalition of advocacy groups is calling for the SEC to press ahead with an expansion of a fiduciary standard to hold broker-dealers to identical standards of care for retail client that are already imposed on investment advisors.

The Securities and Exchange Commission issued its long-anticipated proposal for reforms to stabilize money market mutual funds and protect investors from the type of run that brought the sector to the brink of collapse at the height of the financial crisis in 2008.

The Securities and Exchange Commission on Wednesday unanimously agreed to propose reforms for money market funds to make them less susceptible to runs, such as those that occurred in 2008 when Reserve Primary Fund "broke the buck" and investors pulled $300 billion from other prime money market funds.

Some of the U.S.’s largest providers of money-market mutual funds have sought a compromise on new regulation, making adoption of tougher rules for the $2.6 trillion industry more likely if far from a sure bet.

Former U.S. Senator and new SIFMA CEO Judd Gregg tells On Wall Street why the legislation is the wrong type of law.

Bank of America Corp. and Wells Fargo & Co. were ordered to pay about $5.2 million in fines and restitution by the Financial Industry Regulatory Authority over sales of loan funds.

Bank of America Corp. and Wells Fargo & Co. were fined by the Financial Industry Regulatory Authority over sales of loan funds.

Regulation should be strong enough to protect investors yet business-minded enough to promote active derivatives, mortgage and other markets, says Judd Gregg, a former New Hampshire lawmaker and new chief executive of the Securities Industry and Financial Markets Association.

ING U.S. announced last week that the underwriters in its initial public offering have exercised their overallotment option to purchase approximately 9.8 million additional shares of ING U.S. from ING Group at the IPO price of $19.50 per share.