Compliance

As sharp lines have emerged within a prominent House committee over how to step up examinations of investment advisers, the panel's chairman has signaled that no legislation will advance without broad, bipartisan consensus.

The Commodity Futures Trading Commission said the futures commission merchant based in Greenwich, Conn., failed to properly supervise the reporting of activity in accounts of large traders.

Comments by former Citigroup chief executive Sandy Weill reignited the debate over whether to separate commercial banking from investment banking.

House Democrats on Wednesday introduced legislation that would expand the role of the SEC to conduct oversight examinations of investment advisors, a segment of the financial services sector that lawmakers on both sides of the aisle have agreed is under regulated.

According to an SEI poll, 44% of wealth managers said dealing with ongoing and ever-evolving regulatory changes will be their firms’ top priority this year.

U.S. senators Jack Reed and Charles Grassley introduced a bill to authorize the Securities and Exchange Commission to impose bigger sanctions after the agency said it didn’t have adequate tools to deter financial fraud.

The advocacy organization sent a letter of comment to the SEC citing the impact a fee hike could have on independent firms.

Phillip D. Murphy, a former manager of municipal derivatives products at Banc of America Securities LLC, now Bank of America Merrill Lynch, was indicted by a federal grand jury on three counts of conspiracy and wire fraud in connection with a fraudulent scheme to rig bids for municipal-bond related investment agreements.

United Technologies Company last month took the plunge into providing its employees a steady stream of retirement income.

Paul Schott Stevens has been president and chief executive of the Investment Company Institute since 2004.

Airgead Clann, a California independent investment advisor, announced they will proceed with a FINRA arbitration against Charles Schwab regarding the abrupt termination of their investment manager service agreement in October.

New analysis from a nonpartisan group shows that JPMorgan officials accounted for 18% of all industry meetings with the Fed concerning Dodd-Frank implementation over the past two years, while JPMorgan accounted for 17% of all meetings with Treasury. Goldman Sachs, which also held hundreds of discussions with regulators, focused mainly on the CFTC.

The Securities and Exchange Commission has named Paul A. Beswick as acting chief accountant in the Office of the Chief Accountant, succeeding James Kroeker, who left the SEC last Friday.

The Financial Industry Regulatory Authority has ordered five firms to pay $117,425 in fines and restitution to customers for violation of municipal securities trade, pricing and supervisory rules.

On eve of law's second anniversary, regulators face heavy scrutiny over how they will implement remaining Dodd-Frank rules. Many key regulations have yet to be seen.

It may seem completely crazy to compare the use of social media with sexual harassment.

On a three to two vote, the Securities and Exchange Commission charged the nation's exchanges and the Financial Industry Regulatory Authority with developing and maintaining a consolidated and auditable trail of every order, cancellation, modification and executed trade on 13 national stock exchanges, 10 options markets and through more than 200 broker-dealers.

There is a new sheriff in town for the mutual fund industry-and he may need to borrow money for bullets.

The head of the Financial Services Institute has delivered a pointed letter to House committee leaders criticizing the efforts of the Department of Labor in developing a new definition of the term "fiduciary" that would cover financial professionals providing advice to retirement plans.

Fund managers and financial advisors are looking to the cloud to reduce costs, enhance performance, and improve accessibility, but many questions remain.