Compliance

While the investment industry may be in two minds about how the SEC should proceed, investors are in no doubt that advisors should act in their best interest.

Senate Democrats largely supported the idea of appointing Elizabeth Warren as the temporary head of the Consumer Financial Protection Bureau, with one key exception — Banking Committee Chairman Chris Dodd — who joined Republicans in arguing such a move would be a "mistake."

The White House is considering appointing Elizabeth Warren as interim head of the Consumer Financial Protection Bureau, bypassing a likely Senate confirmation battle.

FINRA today announced it has censured and fined New York-based Trillium Brokerage Services LLC $1 million for using “an illicit high frequency trading strategy and related supervisory failures.”

FINRA has censured and fined the New York-based brokerage firm $1 million for using an illicit high frequency trading strategy and related supervisory failures.

The Securities and Exchange Commission is likely to revise its approach to circuit breakers on the nation's equities exchanges, to include a "careful review" of price bands that limit how far up or down the price of a stock can move at any given time.

Two influential advisor trade groups-the Securities Industry and Financial Markets Association and Financial Planning Coalition, which consists of the Certified Planner Board of Standards, the Financial Planning Association and the National Association of Personal Financial Advisors-finally sent in their comment letters to the Securities and Exchange Commission regarding Section 913 of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, on a blanket fiduciary standard for all financial advisers.

Kenneth I. Starr pleads guilty to three counts; 20 additional counts and SEC charges still loom.

The Securities and Exchange Commission Friday 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.

Though the creation of a consumer protection bureau got much of the attention, the Dodd-Frank Act also created an Office of Financial Research with an ambitious mandate.

The Securities and Exchange Commission Friday 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.

Financial adviser to the stars Kenneth I. Starr, Starr & Co. pled guilty before the U.S. District Court for the Southern District of New York Friday to ripping off $50 million from A-listers including Wesley Snipes, Sylvester Stallone, Uma Thurman, Nora Ephron and Al Pacino.

The Financial Industry Regulatory Authority wants broker-dealers to be a lot more specific on the reasons for dismissing an employee in their reports to the regulator.

Douglas Lee Campbell, a former senior vice president and marketer in Bank of America’s municipal derivatives group, pleaded guilty Thursday to three criminal counts for engaging in bid-rigging and fraud conspiracies connected with guaranteed investment contract and other municipal finance agreements.

The Municipal Securities Rulemaking Board has issued draft guidance warning broker’s brokers of their obligations under its rules following recent enforcement actions by the Securities Exchange Commission and the Financial Industry Regulatory Authority alleging rule violations.

The Financial Services Authority said Thursday it fined Goldman Sachs $31 million for failing to notify the U.K. regulator that trader Fabrice Tourre was being investigated by the U.S. Securities and Exchange Commission.

SEC Chairman notes there have been net redemptions from equity mutual funds every single week for the past four months.

Besides ensuring orderly pricing in equity markets, outflows from stock mutual funds that have occurred every single week in the four months since the May 6 Flash Crash, for estimated redemptions totaling more than $50 billion, are causing grave concerns at the Securities and Exchange Commission.

The Securities and Exchange Commission charged a Colorado investment adviser with deceiving elderly clients about the safety of putting their money into hedge funds.

The SEC is likely to revise its approach to circuit breakers to include a “careful review” of price bands that limit how far up or down the price of a stock can move at any given time.