Compliance

Members of the House Financial Services Committee have a chance Tuesday to pose tougher questions about the JPMorgan trading losses than their Senate counterparts did.

The CFP Board disciplined 24 planners in its most recent thrice-yearly review of disciplinary or ethics allegations. In 13 cases, planners lost their rights to use the CFP designation permanently. Six other planners received suspensions for varying lengths of time, and five received letters of admonition.

On June 11, 2012, The Investment Company Institute has hired George Shevlin as its new Political Affairs Officer, responsible for managing the Institute’s political program, including the Political Action Committee.

You weathered the credit crisis. You got through the Flash Crash. You are watching Europe (and the U.S.) struggle to make sure its debt doesn't implode from the global economic downturn. So you're ready for the next big threat to financial markets, right?

In testimony before the Joint Economic Committee of Congress, the Fed chairman also highlights lawmakers' role in strengthening U.S. economy.

As the debate over regulatory reforms in the RIA sector has resurfaced on Capitol Hill, industry groups on both sides of the issue are making their case to lawmakers and staffers in the hopes of either advancing or derailing legislation that would establish a self-regulatory organization to oversee RIAs.

In testimony before members of a House committee on Wednesday, Richard Ketchum, the chairman and CEO of FINRA, offered an enthusiastic endorsement of a legislative proposal to establish a self-regulatory organization to oversee RIAs.

"I would first like to fully fund the SEC," Barney Frank (D-Mass.), the ranking member of the Financial Services Committee, said at a hearing this morning considering the Bachus bill. "The very fact that we're considering an SRO argues strongly against the inadequate funding this Congress has given the SEC."

On June 6, 2012, The Securities and Exchange Commission charged OppenheimerFunds Inc. and its sales and distribution arm with making misleading statements about two of its mutual funds struggling in the midst of the credit crisis in late 2008.

Ninety-eight percent of advisers expressed concern that the estimated SRO membership fees would have a financial impact on their ability to run their firm. Of the 98%, 69% said the impact would be categorized as “severe.”

As lawmakers take up legislation that would reshape the regulatory landscape for retail investment advisers, industry groups are poised to present sharply contrasting visions for where expanded oversight authority should be housed.

After more than two decades urging the SEC to increase regulatory oversight of financial advisors, Barbara Roper stunned many on both sides of the debate by declaring herself open to the prospect of regulation coming from a self regulatory organization, such as FINRA.

Marie Chandoha, president of Charles Schwab Investment Management, told the SEC that a new study on money-market funds was “troubling” because it wrongly concludes that the funds are dangerously susceptible to runs and presumes more regulation is needed.

Former U.S. Senator Christopher Dodd weighed in on JPMorgan Chase's much-publicized trading loss Thursday, pointing to it as validation of the need for the landmark financial reform legislation he co-authored.

The SEC has conducted routine inspections of FINRA’s advertising and arbitration programs, but not as frequently as it had planned.

What do you do when spouses who are both clients have very different interests?

The presumptive Republican nominee has given almost no details about his plan to replace the Dodd-Frank Act

Four major flaws in proposed FINRA legislation that will hurt independent financial advisors and those they serve, according to NAPFA.

The increasing popularity of electronic brokerage has led the MSRB to examine whether retail investors who trade municipal securities through broker-dealers' online systems have adequate protection under its rules.

The Financial Services Institute issued a letter arguing an SRO modeled after FINRA is the best of all alternatives, and FINRA rebutted criticism of its cost estimates for an investment advisor regulator.