Compliance

A former Massachusetts CFP and his colleague spent $1 million of their clients’ funds on personal expenses, including fast food, legal fees and ATM withdrawals at casinos, the SEC alleges.

Four firms agreed to pay $105,000 in fines for violations of pricing, political contribution, supervisory and other rules of the Municipal Securities Rulemaking Board.

If you’re outsourcing record-keeping around the world, you still have to oversee it, for compliance purposes, experts and asset managers say.

The Senate Banking Committee approved Mary Jo White’s nomination to lead the Securities and Exchange Commission on a bipartisan vote, clearing her way to become the first ex-prosecutor to lead the agency.

Federal regulators would “like to codify exemptive relief” from provisions of the Investment Company Act of 1940, so they can focus on more innovative fund applications.

PALM DESERT, Calif. -- Norm Champ, director of the Securities and Exchange Commission’s Division of Investment Management, today took the first steps in meeting and speaking to members of the Investment Company Institute.

A managing director of Charles Schwab Investment Management said the money market mutual fund industry has ‘nothing to hide’ about the value of its assets. Floating the stated value of each share of a fund, however, would result in “a lot of imposed inconvenience.’’

Through less promotional posts, advisors may be able to avoid the red tape.

PALM DESERT, Calif – Is the Financial Stability Oversight Council out to undermine the Securities and Exchange Commission’s “role, independence, and democratic process”?

The general counsel for the advocacy group that represents the investment fund industry said Monday that financial transaction taxes harm investors, retirement savers, market operations, economic growth and investment returns.

Wells Fargo CEO John Stumpf said banks are no longer "too big to fail," and admonished fellow bankers to accept the existence of the Consumer Financial Protection Bureau.

Last year, Karrie McMillan led off the first day of the Investment Company Institute's annual mutual funds conference with a stinging takedown of the Securities and Exchange Commission's treatment of the industry.

The investment management industry is undergoing a transformation.

Regulatory reform will take center stage at the Investment Company Institute's 2013 Mutual Funds and Investment Management Conference that starts today in Palm Desert, CA.

The minutes from the most recent Federal Open Market Committee meeting have been poured over by countless pundits who have shown the same level of consensus that Congress has on the sequester.

The Securities and Exchange Commission today published a guidance update to clarify what mutual funds and other investment advisors can say on their social media sites.

As the Securities and Exchange Commission's enforcement and litigation activity in 2012 demonstrates, the agency's focus on municipal market enforcement has increased dramatically, and this trend seems likely to continue under the SEC's new leadership.

A new report on FINRA's 2012 actions suggests the self-regulatory body is getting tougher.

At the outset, the U.S. Supreme Court's latest ruling against the Securities and Exchange Commission-that there is a five-year limit on bringing fraud claims- may sound like a victory for mutual funds and their advisors.

At the outset, the U.S. Supreme Court's latest ruling against the Securities and Exchange Commission-that there is a five-year limit on bringing fraud claims- may sound like a victory for mutual funds and their advisors.