Compliance

The proposed rule change might lower litigation and forum expenses, but it could also result in more claims and awards against reps and (eventually) RIAs.

Bankers are "bastardizing" the process of terms of the Dodd-Frank Wall Street Reform Act, by threatening to file lawsuits over whether costs and benefits of new rules have been adequately studied, according to Commodity Futures Trading Commission member Bart Chilton.

SEC Chairman Mary L. Schapiro told a financial services subcommittee of the House of Representatives that the federal regulator intends to spend $100 million of its $1.6 billion requested budget for fiscal 2013 on information systems and another $50 million on modernizing the EDGAR stock information database and www.sec.gov, its public website.

The advisor allegedly used client money to buy a $3.35 million beach resort being developed by a relative.

The new process will be partially electronic, the proposal suggests, to eliminate current deficiencies and delays.

The Public Company Accounting Oversight Board has voted to issue for public comment a proposed auditing standard on related-party transactions, and to amend standards on significant unusual transactions and auditors of broker-dealers.

An arbitration panel shot down a claimant’s request for up to $2.9 million for allegedly botched investments tied to private placements and Ponzi schemes last week, and instead ordered her to pay almost $136,000 in costs and expert witness fees.

Three big-name mutual fund shops, including Fidelity Management & Research Company, State Street Corporation and Federated Investors, are warning the Securities & Exchange Commission that eliminating the fixed $1 price of fund shares will scare away many investors who want some minimum level of value stability in their assets.

Three big-name mutual fund shops, including Fidelity Management & Research Company, State Street Corporation and Federated Investors, have a few choice words for the Securities & Exchange Commission about more money- market regulations.

Here’s an interactive slide show detailing the best investment ideas for this election year from seven financial advisors practicing throughout the country.

Our legal expert discusses a new calculation by the SEC.

U.S. officials see Foreign Account Tax Compliance Act as a significant undertaking for financial institutions.

Here’s an interactive slide show detailing the best investment ideas for this election year from seven financial advisors practicing throughout the country.

Former Morgan Stanley Smith Barney financial advisor Victor Manuel Rivera Jr. pled guilty in a New Jersey federal court to stealing more than $90,000 from the accounts of his clients.

The SEC filed a complaint this month accusing Brenda Eschbach of misappropriating over $3 million of her clients’ funds.

Regulators are stepping up their efforts to safeguard investors and their money from unscrupulous financial advisors. Here’s an interactive slide show detailing five advisors who have already found themselves in the SEC’s crosshairs this year.

As brokers and investors are all too aware by now, IRS Form 1099-B, on which brokerage transactions are reported, has a new look this year and advisors and clients are scrambling to makes sense of it.

NYSE Euronext said its annual report to the SEC that it incurred $85 million of legal, banking and other expenses in 2011 from its unsuccessful plan to merge with Deutsche Boerse.

Raymond James clears one hurdle in getting early termination of the waiting period in connection with the $930 million purchase of Morgan Keegan

FSI needs a bit more time to respond, and some of the data requests seem misguided, according to a letter it sent to the Labor Department.