Compliance

Securities and Exchange Commission, money market fund, money fund

WASHINGTON-The U.S. debt, $9.5 trillion in 2010, could reach $25.9 trillion by 2021 if not kept in check. This was the warning of Erskine B. Bowles, former White House chief of staff, and Alan K. Simpson, former Senator from Wyoming, who are co-chairs of the National Commission on Fiscal Responsibility and Reform, speaking at the Investment Company Institute's General Membership Meeting here.

FINRA has hit Wells Fargo Advisors with $1 million in fines for delayed delivery of prospectuses to its mutual fund customers and required regulatory disclosure information about its representatives.

In a recent filing, State Street, the Boston, Mass.-based institutional investor services firm, revealed that the Securities and Exchange Commission (SEC) and other federal authorities have inquired about its past foreign exchange practices.

New rules targeting broker-dealers could mean new exams for certain management professionals and new standards for SEC inquiries.

A group of Democratic members of the House, led by Rep. Carolyn McCarthy (D-NY) and Rep. Rush Holt (D-NJ), has written to the Department of Labor criticizing a new rule that would redefine the term fiduciary in the Employee Retirement Income Security Act of 1974.

A two-hour Senate Banking Committee hearing Thursday touched on virtually every major financial services topic under the sun but resolved little.

Top House Democrats attempted to halt momentum Wednesday for a bill to delay by 18 months the derivatives provisions of the Dodd-Frank Act.

Investment firms sparred with regulators during a Securities and Exchange Commission roundtable over the potential risk money market funds could pose to the financial system.

Federal Deposit Insurance Corp. Chairman Sheila Bair said Monday she will step down from her post on July 8.

While Shelby has every right to seek changes to laws that don't work, he should give Dodd-Frank and the Consumer Financial Protection Bureau a chance before trying to crush them.

The Financial Industry Regulatory Authority has hit Wells Fargo Advisors with $1 million in fines for delayed delivery of prospectuses to its mutual fund customers and required regulatory disclosure information about its representatives.

The Securities and Exchange Commission has proposed requiring financial firms to report in real-time either short sale transactions or positions, as part of an initiative to increase disclosure on the popular practice.

WASHINGTON--The Securities and Exchange Commission is set to meet Tuesady to address how to prevent runs on money market funds that could disrupt the $2.7 trillion market and the nation's financial system as a whole.The federal regulator will hold a roundtable involving industry experts, academics, other regulators and agencies making up the newly created Financial Stability Oversight Council at its headquarters at 2 p.m. Here is a list of participants.

As the Securities and Exchange Commission and Commodity Futures Trading Commission try to create rules governing the burgeoning $700 trillion over-the-counter derivatives market, buy-side firms want to ensure they aren't left out in the cold.

The Securities and Exchange Commission is set to meet next week to address how to prevent runs on money market funds that could disrupt the $2.7 trillion market and the nation's financial system as a whole.

Republicans are strongly considering using a rare procedural move to prevent President Obama from making a recess appointment to install a director of the CFPB.

On the one-year anniversary of the Flash Crash, Securities and Exchange Commission chairman Mary L. Schapiro said the behavior of high-frequency trading firms will be closely scrutinized -- and placing obligations on high-speed traders to maintain markets in stocks "remains on the table.''

The Securities and Exchange Commission has proposed requiring financial firms to report in real-time either short sale transactions or positions as part of an initiative to increase disclosure on the popular practice

Wells Fargo failed to promptly send prospectuses to certain mutual fund customers and update records for representatives employed by the firm, FINRA said.