Compliance

Whether it's capital surcharges for fund companies designated as "systemically important" or dealing with new fiduciary rules for advisors and brokers or the much-feared reform of money funds, the bill is about to come due-and get paid.

SEC Chairman Mary Schapiro is leaving the agency, after helping turn around its tarnished reputation in the wake of the financial crisis.

Goldman Sachs Group Inc. Chief Executive Officer Lloyd Blankfein is among the executives scheduled to meet with U.S. House Republican leaders on the so- called “fiscal cliff,” according to a House aide.

Schapiro, 57, will be replaced as chairman when she steps down on Dec. 14 by Commissioner Elisse Walter, former senior executive vice president at the Financial Industry Regulatory Authority, President Obama said in a statement.

The Securities and Exchange Commission has initiated cease-and-desist proceedings against a New York-based advisor for submitting false information on a registration form in a bid to duck its regulatory obligations with state authorities.

The Investment Company Institute, noting its disagreements with outgoing Securities and Exchange Commission chairman Mary L. Schapiro, lauded the “record of accomplishment” of the woman nominated to succeed her.

Securities and Exchange Commission Chairman Mary L. Schapiro said she will leave her office before the end of the year.

Securities and Exchange Commission Chair Mary L. Schapiro will step down on Dec. 14, the commission announced Monday.

UBS AG was fined 29.7 million pounds ($47.6 million) by the U.K. and told by the Swiss that it may have to increase capital levels for operational risks as regulators levied penalties after Kweku Adoboli’s $2.3 billion trading loss.

SAC Capital Advisors LP is seeking to calm investor concern about founder Steven A. Cohen’s trading in two drug stocks and possible regulatory sanctions after prosecutors for the first time tied Cohen to a specific transaction at the center of an insider-trading investigation.

Morgan Keegan & Co. is going to trial before a judge whose decision to throw out regulators’ claims the retail brokerage misled thousands of investors about the risks of auction-rate securities was reversed on appeal.

Nationwide Funds Group has merged the UBS High Yield Fund and UBS Global Equity Fund into the Nationwide High Yield Bond Fund and the Nationwide Global Equity Fund, giving Nationwide some $183 million in new assets

President Barack Obama has been re-elected. Is there portent for the mutual fund and exchange-traded fund industry?

Federal Reserve Chairman Ben Bernanke Tuesday said the Fed cannot single-handedly neutralize the impact of the so-called fiscal cliff that the economy may tumble over come January 1.

Now that President Obama has been re-elected, Wall Street is weary of the future. How will the financial sector respond? When will it fully recover? Will the election results embolden regulators and inspire a greater degree of oversight? Will the President introduce new forms of regulation?

“I’m more optimistic by everything I’ve read,” Moynihan said today in London during a Bloomberg Television interview. Lawmakers are taking the matter “very seriously,” he said.

Treasuries fell, following a four- week gain, after President Barack Obama said he was confident the U.S. will avoid the automatic spending cuts and tax increases scheduled to occur at year-end.

Almost immediately after the election, the national conversation turned to what is widely seen as an impending financial crisis known as the fiscal cliff. A dramatic term, for sure, but what does it mean for the economy, investment advisors and their clients?

It's not surprising that risk management and cost containment remain high priorities for fund companies and service providers.

s Vanguard engaged in a fee war in the mutual fund space?