Compliance

You can put compliance into your computing cloud. But the cloud can't do the compliance for you.

The combination of having at least three of the proposed 10 “industry” seats on its expanded board dedicated to nondealer muni advisors, along with the establishment of a council of advisors to bounce ideas off the board, will ensure that advisors are fairly regulated beginning Oct. 1, the Municipal Securities Rulemaking Board is insisting.

Rivals of BofA are expected to wait and see how the Charlotte company's moves sit with the public and with Elizabeth Warren, the special adviser who's setting up the CFPB.

To avoid a Lehman Bros. redux, federal regulators must prepare for the next crisis by obtaining blueprints for unwinding the largest financial companies.

Rep. Spencer Bachus came out swinging Wednesday against speculation he may not become chairman of the House Financial Services Committee if Republicans win control of the House in the midterm elections.

Just four days after being appointed to spearhead the creation of the new consumer bureau, Elizabeth Warren has hit the ground running.

The Commodity Futures Trading Commission will vote Oct. 1 on new rules for derivatives clearinghouses and a reporting deadline for outstanding swaps trades, CFTC Chairman Gary Gensler told the U.S. Chamber of Commerce Tuesday. The new rules would also apply to exchanges and swap trading platforms.

Financial Executives International has written to congressional leaders criticizing President Obama’s proposal to close foreign tax credit loopholes in exchange for making the research & development tax credit permanent.

The Securities and Exchange Commission approved the expansion of its post-Flash Crash circuit breaker program to include all stocks in the Russell 1000 Index and a test group of exchange-traded funds.

Even some of the commissioners who approved the proposal suggested it wasn't an ironclad obstacle to gussying up complex balance sheets.

The FDIC is soliciting the banking industry's help in devising a new resolution system — even as companies try to get an idea of what the new system will look like.

Poverty is sky-high and unemployment remains relentless. Is the new small business bill just a band-aid that can't stop the bleeding?

Senate Finance Committee Chairman Max Baucus on Thursday proposed to extend the Build America Bonds program for only one year in legislation he unveiled that would extend several expiring or expired bond and tax provisions.

The Senate approved legislation on Thursday that would provide $12 billion in tax breaks to small businesses, along with a $30 billion lending fund.

Tapping Elizabeth Warren as a top administration official charged with setting up the new consumer protection bureau will help her avoid a tough confirmation battle, but may offer as many risks as rewards.

While fiduciary rules, 12-b-1 changes and new ADV reporting requirements are on everyone’s radars, most advisors aren’t doing much to prepare.

At a Senate Banking Committee hearing, supporters of the plan argued that covered bonds are an untapped channel that could supply additional liquidity to the sluggish mortgage markets.

The lack of appointments to key jobs created by Dodd-Frank makes you wonder what the administration is thinking, and more specifically how much power Geithner is amassing.

Industry participants say brokers have made a lot of progress toward meeting new cost-basis reporting requirements from the Internal Revenue Service, which take effect in January 2011.

At 91%, the overwhelming majority of retail investors support a fiduciary standard for all financial advisers, according to a survey of 1,319 investors by Infogroup/ORC.