Compliance

BlackRock the world’s biggest money manager, is accused in a lawsuit by two pension funds of reaping “grossly excessive” compensation from securities- lending returns associated with iShares.

The Financial Industry Regulatory Authority's municipal market priority this year will be ensure that brokers adequately disclose risks associated with tax-exempt bonds backed by revenue from private and nonprofit entities, which have significantly higher default rates than general obligation bonds.

BlackRock the world’s biggest money manager, is accused in a lawsuit by two pension funds of reaping “grossly excessive” compensation from securities- lending returns associated with iShares.

The Securities and Exchange Commission last month promoted George Canellos, currently Deputy Director of the Division of Enforcement, as Acting Director

The Securities and Exchange Commission's municipal bond office has sent a so called "no-action" letter to NetRoadshow Inc., paving the way for the firm and its underwriter clients to present Internet-based "road shows" on municipal bond offerings to retail investors.

The regulator will collect about $800,000 in fines for stock and options trading and trade reporting violations at over a dozen brokerages, according to the regulator's January disciplinary actions report.

Stadion Money Management has found itself a new distribution partner.

Mary Jo White, a former prosecutor and defense lawyer, is sometimes referred to as Attila the Hun by her peers.

Advisors may be able to erase mark against them from disputes in which they were not directly named.

Advisors could see talks on oversight and a fiduciary standard move forward this year.

Financial advisors may have breathed a sigh of relief after lawmakers reached a deal to avoid the fiscal cliff, but the next several weeks will bring more debate, and potentially more turmoil, over big-ticket budget items that could dramatically alter the strategies you recommend to clients.

Using its muscle to influence the debate as federal officials gear up to establish tighter regulations on the advisory world is the Financial Services Institute’s top priority this year, organization executives said Tuesday at the group’s annual conference.

A U.S. judge said the Internal Revenue Service can demand information from UBS AG about U.S. clients of Wegelin & Co., the Swiss bank that pleaded guilty this month to conspiring to help cheat the IRS.

Pioneer Investments is reshuffling its fund lineup including reorganizing four domestic equity funds and liquidating another.

Earlier this month, Goldman Sachs started the congo line, which quickly formed to include other money market fund players such as J.P. Morgan Funds, BlackRock Fidelity Investments, Federated Investors, Reich & Tang and State Street Global Advisors, all of whom have announced plans to publish the market value of assets in their funds everyday, while keeping the net asset values in their funds priced at $1 a share.

The Investment Company Institute is proposing that prime money market funds impose temporary “gates” and fees to halt redemptions during times of market stress.

If confirmed by the Senate, veteran prosecutor Mary Jo White would assume responsibility for moving ahead with a number of initiatives that would reshape the regulatory landscape for advisors

Mary Jo White, a prosecutor and former U.S. attorney in Manhattan, will be nominated by President Barack Obama to be the next chairman of the Securities and Exchange Commission, according to a White House statement.

President Barack Obama will nominate former US attorney Mary Jo White to lead the Securities and Exchange Commission, replacing incumbent Chairman Elisse Walter, the New York Post reports.

The Internal Revenue Service provided advice to taxpayers Wednesday on dealing with the late opening of tax season on January 30 that could also prove helpful to tax preparers.