Compliance

The Securities and Exchange Commission has set the timetable and ground rules for when and how some mid-sized investment advisors can deregister with the federal regulatory agency and be overseen by state regulators.

Rep. Randy Neugebauer, R-Texas, is gearing up to play a leading role on the House Financial Services Committee next year — to ensure that regulators do not overstep their bounds.

Sponsors would have to disclose a fund’s asset allocation and how that changes over time.

Four years after it began charging risk-based premiums, the Federal Deposit Insurance Corp. is set to revamp them again for the largest institutions.

The Securities and Exchange Commission, Federal Bureau of Investigation and the office of Manhattan U.S. Attorney Preet Bharara are readying insider-trading charges against numerous financial professionals.

A principal aim of the impending cost basis reporting law is to enable the IRS to capture lost tax revenues due to inaccurate or underreported filings. Brokers and custodians are now scrambling to ensure their accounting systems will be compliant with the regulations, expected to take effect Jan. 1, 2011. However, the law will impact firms in other ways they may not yet realize.

Investigation might redefine insider trading.

In an era of low interest rates, weak loan demand and unprecedented efforts by the Federal Reserve Board to pump liquidity into the economy, the demand for Federal Home Loan Bank advances has plummeted to a 10-year low, raising questions about the system's future as the government weighs a redesign of the housing finance sector.

The Build America Bond program is likely to be extended for one year at something less than its current 35% federal interest cost subsidy level, due to the dynamics shaping up around the tax-cut extension Congress will consider when it returns after Thanksgiving.

Janus said Tuesday it has been subpoenaed in the federal investigation into insider trading by “executive networks,” hedge funds and mutual funds. A day earlier, the FBI raided the offices of three hedge funds in Connecticut and Massachusetts.

Frank Keating pledged Tuesday to take a bipartisan approach as the next head of the American Bankers Association, dismissed concerns about a past scandal from his former career as Oklahoma governor as "unfair" and touted his experience with issues relevant to mortgage securitization and the Bank Secrecy Act.

A pullback in reserves helped drive another solid profit for banks and thrifts last quarter, but the Federal Deposit Insurance Corp.'s assessment of the industry's health Tuesday was tempered by mortgage fallout concerns.

The inclusion of one word in the Dodd-Frank law is raising concerns among bankers that it will lead to a ban on certain financial products or services.

Canada's Industry Regulatory Organization has proposed the implementation of single-stock circuit breakers.

The Securities and Exchange Commission has named Jennifer B. McHugh as acting director of the division of investment management, replacing Andrew “Buddy” Donohue, who left Friday after four years heading the division.

The FBI raided the offices of three hedge funds Monday, beginning its investigation into insider trading, The Wall Street Journal reports, citing people familiar with the matter. The FBI is planning to raid additional hedge funds, they said.

The papers reported over the weekend that the SEC, FBI and the office of Manhattan U.S. attorney Preet Bharara are readying insider-trading charges against numerous financial professionals.

Two former back office assistants of Bernard Madoff were arrested Thursday, after the Securities and Exchange Commission Thursday charged the employees with helping to create phony account statements for his multibillion dollar fraud.

The Securities and Exchange Commission is reportedly investigating a complex $1 billion investment deal Citigroup Inc. arranged leading up to the financial crisis.

The FDIC Chairman discussed her priorities for the rest of her term, and the many bankers who think she is too focused on consumer protection will be surprised to hear her list.