Compliance

The agency is targeting Summit Wealth Management, a registered investment advisor, and Angelo Alleca, who is charged with defrauding investors in what the SEC describes as a scheme that sought to conceal losses from trades that went bad through the creation of new private funds that were used to repay the original investors.

The Securities and Exchange Commission on Tuesday charged a Chicago-based investment advisory firm with misleading investors in connection with a pair of private-equity offerings.

William Steward, a former accountant in product control for UBS AG, said he began looking into trades by Kweku Adoboli in August 2011 after receiving a report of a $3.57 billion discrepancy.

The New York investment bank has filed a request with FINRA to withdraw from the brokerage business, after being fined for breaking 'information barriers.' Its parent company said it will still try to commercialize its DIrect Markets technology.

A Florida federal court rejected Merrill Lynch's petition to vacate an arbitration decision on Monday, clearing the way for two financial advisors to receive a $10.25 million awarded to them in April.

The FDIC is trying to help bankers prep for exams and more clearly understand the results as part of a broader effort at improving relations, Martin Gruenberg, the agency's acting Chairman, said.

Deutsche Bank has unveiled its growth strategy for the next three years and beyond for its U.S. mutual funds unit, known as DWS, and other businesses.

A group of family trusts has lost a $7.56 million arbitration claim that highlights the difficulties of winning individual claims tied to various Morgan Keegan funds that have fallen under regulatory scrutiny.

The Securities and Exchange Commission has named Andrew Bowden as Deputy Director of the agency's Office of Compliance Inspections and Examinations (OCIE).

The Securities and Exchange Commission has named Andrew Bowden as Deputy Director of the agency’s Office of Compliance Inspections and Examinations (OCIE).

President Obama will likely win a second presidential term in November, but the election's outcome for policy and investing will likely not be as decisive, according to a research report released Wednesday by UBS Wealth Management Americas.

As efforts to apply stricter fiduciary and disclosure requirements on broker-dealers slow, the Institute for the Fiduciary Standard, a one-year-old think tank that advocates for uniformity, met with Mary Schapiro, the Chairman of the SEC, to make its case.

With an eye on extending a fiduciary standard to all, the Institute for the Fiduciary Standard sent this declaration.

ProShares this week got some good news from the United States District Court for the Southern District of New York, which dismissed, in its entirety, the class action lawsuit filed against the firm in 2009.

The Financial Services Authority has fined BlackRock Investment Management (UK) Limited £9,533,100 (US$15.2 million) for failing to adequately protect its clients’ money market deposits and for failing to have controls in place to protect its money market deposits.

Even with Wall Street and consumer advocates allied in pushing for it, a U.S. Securities and Exchange Commission proposal to raise standards for brokers advising retail investors has run aground.

Multi-manager shop Virtus Investment Partners has added Rampart Investment Management, which specializes in customized options strategies for institutional and high-net-worth clients, as a wholly owned affiliate of Virtus.

There's no rest or relaxation for operations managers, as fund firms adjust to life in an era of worldwide financial reform.

Risk management and regulatory reporting.

Loomis Sayles is making a hasty name change to one of its funds after losing out on a federal lawsuit.