Compliance

JPMorgan Chase CEO said the U.S. economy would thrive next year if lawmakers reach an agreement to avoid the so-called fiscal cliff of spending cuts and tax increases.

More than 150 chief executive officers, including JPMorgan Chase & Co.’s Jamie Dimon and Goldman Sachs Group Inc.’s Lloyd Blankfein, called on President Barack Obama and House Speaker John Boehner to compromise on a budget deal that would include new tax revenue and spending cuts.

The news media is breathlessly counting down the days until the arrival of the fiscal cliff on December 31. It may make for good television (tune in tomorrow) but it’s not good economic (or good political analysis.) Here’s why:

The rule has been the most common ground for disciplinary action so far this year, according to an analysis by the law firm Sutherland Asbill & Brennan.

The SEC has pulled from within its ranks, tapping Jennifer B. McHugh as senior advisor to the director in its division of investment management.

Looks like eight Tennessee-based mutual fund directors bent the rules too far.

The Securities and Exchange Commission has initiated cease-and-desist proceedings against the former board members of five registered investment firms, alleging that they failed to maintain appropriate fair-market valuations of debt securities that comprised a substantial portion of the companies' portfolio.

The leading accounting firms that conduct audits on the financial statements of publicly traded companies suffer from a significant and growing number of deficiencies, according to a new report by an industry oversight organization.

PIMCO's scored a patent.

It looks like Carlyle Group's planned acquisition of TCW Group from Societe Generale will not be sidetracked by an arbitration case filed by former TCW unit, EIG Global Energy Partners, had sought to block the sale.

U.S. lawmakers and lobbyists who once backed repeal of the 2010 Dodd-Frank Act are now pushing for technical fixes to the law, and they’re getting a skeptical reception from the measure’s advocates.

FINRA announced Saturday that it will seek comment in a regulatory notice on the proposed mandatory disclosure of bonuses.

Investors withdrew money last month from Vanguard Group's emerging markets exchange-traded fund, the industry's largest, after the firm said it would replace the fund's index.

My favorite lobbying move of the year came in early May, in, of course, Washington, D.C.

While the U.S. Congress views the convergence of more than $600 billion in tax increases and spending cuts set for Jan. 1 as a “fiscal cliff,” the metaphor misses the economic reality of what could follow.

As the week winds down with lawmakers and the White House still at odds over dueling proposals to avert the fiscal cliff, a growing number of voices in the debate are suggesting that the year-end deadline could pass without a deal, initiating a set of across-the-board tax increases and automatic spending cuts.

Wall Street’s cost cuts and dismissals, which have helped erase more than 300,000 financial- industry jobs in the past two years, are far from over.

Late night comedian David Letterman joked, “Everybody is talking about the fiscal cliff. And I'd be talking about the fiscal cliff too, if I knew what the hell it was.” Your clients and prospects are probably just as worried, and twice as confused.

Mark Cahn, general counsel at the Securities and Exchange Commission, is leaving the agency at the end of the year to return to the private sector.

Mark Cahn, general counsel at the Securities and Exchange Commission, is leaving the agency at the end of the year to return to the private sector.