Compliance

'Tis the season when the leaves change, the National Football League is kicking its season into second gear, the Yankees are once again chasing another championship, and...yes, there's another mutual fund conference to attend.

Bruce Bent Sr. took the stand Thursday afternoon in a New York City courtroom, defending his actions during the 2008 financial crisis as his $62 billion Reserve Primary Fund—the world’s first money market mutual fund—imploded after making an unfortunate bet on the debt of Lehman Brothers Holdings, the Wall Street Journal reports.

Republican presidential nominee Mitt Romney was wrong to say Dodd-Frank offers the "biggest kiss" to large banks, according to Sheila Bair.

ICI president and CEO Paul Schott Stevens and ICI Global Managing Director Dan Waters today fired back at IOSCO’s report on money market funds that includes a number of regulatory recommendations.

Goldman Sachs Asset Management (GSAM) hired Andrew “Buddy” Donohue, the former head of the U.S. Security and Exchange Commission's Division of Investment Management as its deputy general counsel.

Well, that didn't take long.

"To float or not to float? That is the question."

Securities and Exchange Commission member Daniel Gallagher said Thursday the stable net asset value of shares in money funds is again under review.

Sure, it slows down decisions. Sure, it's difficult to do.

An agreement reached in the Lehman Brothers liquidation proceedings could pave the way for customers of the failed brokerage to see 100% recovery without using any fund advances from the U.S. Securities Investor Protection Corp.

Touchstone Investments has hired BNY Mellon as its accounting and administration, transfer agency and blue sky service provider for four additional Touchstone funds.

Mutual fund executive John Mattera, of Fort Lauderdale, Fla., pleaded guilty this week to three criminal counts, including conspiracy, securities fraud and wire fraud, in connection to an $11 million scam involving the sale of non-existent private shares in companies such as Facebook (FB) and Groupon (GRPN).

In sharply worded speech to the Exchequer Club last month, the outspoken regulator said some executives "fail to grasp" the public's mistrust in banks.

Exemptions and the chance to opt out have lawyers predicting the $40 million proposed deferred compensation plan settlement will not cease litigation against Merrill Lynch.

Our legal analyst explores commission sharing and FINRA disclosure rules.

A run-down of the stories in this issue, including how shifting demographics can open new markets; the special needs of gay and lesbian couples; a look at dividend stocks; and Merrill Lynch's deferred compensation settlement.

Goldman Sachs will pay $12 million to settle charges it made undisclosed contributions to a former Massachusetts state treasurer in violation of "pay-to-play" rules.

Treasury Secretary Tim Geithner asked the Financial Stability Oversight Council to take up structural reforms to the $2.6 trillion money market mutual fund industry, citing the Securities and Exchange Commission's failure to act.

Treasury Secretary Timothy F. Geithner put pressure on the U.S. Securities and Exchange Commission to tighten oversight of the $2.6 trillion money- market fund industry, saying the funds may pose a risk to the stability of the financial system.

London-based ETFGI has added Feargal Dempsey as a partner and Legal Counsel.