Compliance

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.

The ICI has a new director of Financial Services Policy.

Regulatory efforts to change Community Reinvestment Act rules — unveiled three years after nationwide public hearings on the subject — are far too timid, according to consumer groups.

Changes in ERISA rules could make life more difficult for advisors to promote 401(k) plans to employers.

Our legal expert discusses when settling an arbitration case saves time and money.

Wealth management executives call for more accountability and a new approach to client relationships.

Advisors are urged to weigh in as a pair of rulemaking proceedings move forward this summer.

Royal Bank of Canada was ordered to pay more than $800,000 to a U.S. couple over their losses on investments including Lehman Brothers Holdings Inc. preferred stock.

Investment Company Institute chief public communications officer Mike McNamee is speaking out in anticipation of the Securities and Exchange Commission hearing on money market fund reform.

Your clients need you. They really need you! A new report released by FINRA’s Investor Education Foundation shows why, and perhaps casts light on why financial planning has been ranked as one of the best careers.

The U.S. crackdown on Liberty Reserve is stoking fears that the government may effectively cut off digital currencies like Bitcoin as banks sever ties with businesses in this growing field.