Compliance

An industry group has asked regulators to disclose the factors they will use to determine which muni broker-dealers pose more risks and should undergo compliance examinations more often under a new proposed exam program.

THE INABILITY TO INNOVATE AND THE DIRECT impact of that on their firm's profitability are fund executives' biggest regulatory concerns.This is one of the key findings from Money Management Executive's 2011 Regulatory Outlook Survey of 184 industry executives by Lodestar Research Corp.

Rep. Barney Frank, the influential Massachusetts Democrat who championed legislation that made such a dramatic impact on the financial planning industry, will not seek re-election next year, capping a 32-year career in Congress.

The fund industry has historically done an effective job of responding to regulatory challenges. Last Monday's show of force by the Investment Company Institute and 31 industry leaders was a case in point.

THE INABILITY TO INNOVATE AND THE DIRECT impact of that on their firm's profitability are fund executives' biggest regulatory concerns.

With new cost-basis reporting requirements in effect for the 2011 tax year, Charles Schwab is warning investment advisors to brace for a hectic tax season and prepare for a flood of questions from clients who for the first time will receive a revised 1099-B form packed with new transaction information.

The Financial Services Authority has for the first time ever barred a compliance officer from working in the financial services industry.

The SEC charged a longtime Bernie Madoff employee with fraud for his role in creating fake trades to facilitate the massive Ponzi scheme.

The SEC has ordered broker-dealer FTN Financial Securities to pay nearly $2 million for allowing a registered investment advisor, Sentinel Management, to defraud its clients through a reverse repurchase transaction.

The Investment Company Institute on Monday sent a letter signed by 32 leaders of the fund industry, to the co-chairs of the Super Committee, or the Joint Select Committee on Deficit Reduction.

For more than a year, Republicans have been hammering Democrats for what they say are the hefty economic costs of new financial regulations.

The SEC's newly enacted Rule 13h-1 requires “large traders” to register to be assigned an identification number that will allow tracking of its transactions.

The SEC has ordered broker-dealer FTN Financial Securities to pay nearly $2 million for allowing a registered investment advisor, Sentinel Management, to defraud its clients through a reverse repurchase transaction.

Leaders of the Financial Services Institute expressed cautious optimism about their efforts to dilute or derail an initiative under way at the Department of Labor to broaden the scope of the term "fiduciary," a top policy priority for the advocacy organization.

Morgan Stanley Investment Management agreed to pay $3.3 million in a case involving billing for subadvisory services in Malaysia that the SEC said were not rendered.

Regulators implementing the Dodd-Frank Act are writing massive, complicated rules that corporations will maneuver to exploit and federal examiners will struggle to enforce

Investors and financial executives are increasingly feeling overloaded by the volume and complexity of financial disclosure information in annual reports and other financial filings, according to a new study.

UBS Financial Services Inc. was fined $300,000 by FINRA for failing to supervise and prevent excessive cross-trading of municipal securities between the customer accounts of one broker for a two-year period.

The Chase unit recommended risky investments to unsophisticated investors with little or no risk tolerance, FINRA said.

So it is coming down to this: a capital buffer or a floating net asset value.