Compliance

The Securities and Exchange Commission has tapped David Grim for the No. 2 spot in the Division of Investment Management, the bureau that oversees federally registered investment advisors.

The TCW Group has appointed Meredith Jackson as General Counsel, effective January 15.

The collective voice of independent financial advisors just got a little bit louder.

A FINRA arbitration panel has dismissed a claim that Stifel illegitimately poached a number of legacy A.G. Edwards advisors.

Alarmed at a set of conditions that could invite sales abuses and eventually a market correction, the Financial Industry Regulatory Authority enters 2013 with a warning to investment advisors that the group plans to keep a close eye on the industry and hold advisors accountable to its new suitability rule.

Bank of America agreed to pay $62.5 million to resolve investor claims that the bank’s directors mishandled the acquisition of Merrill Lynch & Co., company officials said.

The current economic recovery, while slow, is on track. Fiscal cliff fears have been grossly exaggerated, to the detriment of investors and planners. And sometimes there’s an upside to a modest recession.

Goldman Sachs says it will begin publishing values of the assets held in its money market mutual funds in the United States on a daily basis.

The SEC has already missed its end-of-the-year deadline on laying down rules for so-called crowdfunding of new companies. But FINRA has jumped into the regulatory void, issuing a voluntary form for prospective funding portals.

Et tu, Ned Johnson?

One day after Goldman announced that it was publishing daily “shadow values” of its money funds, J.P. Morgan Funds and BlackRock are also planning to publish net asset values for their own money funds.

As advisors wait to see whether they'll be regulated by the SEC or FINRA, the SEC announced that its enforcement director, Robert Khuzami, will leave the agency.

Goldman Sachs said it will begin publishing values of the assets held in its money market mutual funds in the United States on a daily basis. The first funds for which the daily market values will be published are funds that invest in commercial paper.

In the sharply contested fight over how to avoid the automatic tax increases and spending cuts that became known as the fiscal cliff, President Obama emerged as the "clear political winner," according to a new study by the Pew Research Center for People and the Press.

Newly appointed Securities and Exchange Commission Chairman Elisse Walter this week unveiled the agency’s General Counsel in the form of Geoffre Aronow, who will begin his new role later this month.

JPMorgan Chase named Tim Ryan its Global Head of Regulatory Strategy and Policy. SIFMA names Kenneth Bentsen its acting chief, starting Feb. 23, and will search for a permanent successor.

The Financial Industry Regulatory Authority assessed financial firms and individuals $68 million in fines in 2012 and ordered them to pay a record $34 million in restitution to investors, the regulator announced Tuesday.

The U.S. Supreme Court signaled it may tighten the time limits that apply when the Securities and Exchange Commission and other government agencies seek to impose fines on people and companies accused of fraud.

Newly appointed Securities and Exchange Commission Chairman Elisse Walter this week unveiled the agency’s General Counsel in the form of Geoffre Aronow, who will begin his new role later this month.

A former Morgan Stanley complex manager who felt he was forced to resign is set to receive $1 million in compensatory damages from the firm, according to a new ruling from an arbitration panel.