Compliance

Dodd-Frank laid out a plan for applying separate supervision for the largest, most complex financial companies. Congress ought to do the same for the simplest and the smallest.

The Securities and Exchange Commission is seeking industry comment on a proposal to require broker-dealers to follow the same rules as transfer agents when it comes to finding so-called “lost shareholders.”

The short-selling fine comes after Southwest was nabbed for improperly soliciting municipal bond business.

Independent financial advisers are warning the Securities and Exchange Commission that the Municipal Securities Rulemaking Board’s proposed changes to Rule G-23 contain loopholes that would allow dealer-financial advisers to switch roles and become underwriters in the same muni transactions.

FDIC chairman Sheila Bair received not one but two standing ovations from the ICBA, a week after she was heckled by members of the industry's other main trade group.

A federal judge in Dallas ruled against a $21 million settlement between Securities America and class action plaintiffs.

Alternative investment funds which need to register with the Securities and Exchange Commission for the first ttime will find it a costly process, according to research firm Aite Group.

More investigation as to how a uniform fiduciary standard would affect consumers and the market is needed, a group of House lawmakers said in a letter to the SEC.

Securities and Exchange Commission officials are urging market participants to provide their views about the muni industry and how it can be improved, after the SEC was forced by budget cuts to suspend a series of field hearings that were to be held around the country.

Bankers are divided over the seriousness of a provision in the Dodd-Frank Act that would repeal Regulation Q and allow banks to pay rates for demand deposits.

The Financial Industry Regulatory Authority is developing a system that will tell its examiners and firms’ compliance officials whether firms that sold munis with material-event disclosures passed that information on to customers.

Although Sheila Bair and the ABA have often been at loggerheads over regulatory reform, the distance between them was never more apparent than during her last address to the group.

Two top Obama administration officials said Tuesday that the government-sponsored enterprises would not be exempted from a pending proposal to help standardize mortgages sold into the secondary market.

The Financial Industry Regulatory Authority has fined Dallas-based financial services company Southwest Securities Inc. $500,000 for soliciting violations related to its municipal securities business.

House Ways and Means Committee Democrats introduced a bill on Thursday that would reinstate Build America Bonds, the higher small-issuer limit for bank-qualified bonds, and six other bond, tax credit and loan guarantee programs.

Empowering the SEC to adequately monitor markets would help restore some faith in the U.S. capital markets, according to the industry group.

The MICG Investment Management of Newport News, Va., and barred its chief executive and majority owner, Jeffrey A. Martinovich, from the securities industry.The move, signaled in February and announced Thursday, follows what the independent regulator of brokers said was misuse of a hedge fund, for personal enrichment of Martinovich and general enrichment of the company.

The Financial Industry Regulatory Authority expelled MICG Investment Management of Newport News, Va., and barred its chief executive and majority owner, Jeffrey A. Martinovich, from the securities industry.

About nine months after it floated the idea, the Financial Industry Regulatory Authority has just asked the Securities and Exchange Commission to approve a rule change to establish a new registration category and qualification exam for certain operations personnel to be called operations professionals.

The Financial Industry Regulatory Authority has not found any major abuses from its targeted examinations of broker-dealers that were either placement agents or worked with such agents to obtain business from municipalities and public pension funds, market sources said Tuesday.