Compliance

The SEC follows up its proposal to whittle down 12b-1 fees with a plan to remake the Form ADV, Part 2. Emphasis on Plain English is back.

For as much press as the recent financial reform bill has received, the majority of financial advisors apparently are unaware of its importance.

Trades were made in UITs, closed-end and mutual funds by two Maryland brokers on behalf of 10 customers, FINRA charges.

As federal regulators begin implementing regulatory reform, at least one agency plans to step up its disclosure of private meetings with industry insiders.

Sometimes regulatory changes that are meant to benefit investors end up taxing industry professionals. That does not appear to be the case with the Securities and Exchange Commission’s (SEC’s) new requirements for Form ADV, Part 2.

The Financial Industry Regulatory Authority Thursday ordered SunTrust Investment Services, Inc. of Atlanta, GA, to pay $1.44 million for making trades on behalf of customers that were not suitable for them.

WASHINGTON — The Municipal Securities Rulemaking Board is considering temporarily expanding its 15-member board, possibly by two to four members, as it transitions to majority-public membership by Oct. 1 to comply with the new financial regulatory reform law.

President Obama's signing of regulatory reform legislation Wednesday signaled the official end of a hard-fought legislative battle but just the beginning of the tougher task of implementing the new law.

WASHINGTON — President Obama's signing of regulatory reform legislation Wednesday signaled the official end of a hard-fought legislative battle but just the beginning of the tougher task of implementing the new law.

WASHINGTON-The Securities and Exchange Commission voted unanimously Wednesday to propose new rules designed to revamp the 12b-1 sales and distribution fees some mutual funds charge and to provide better disclosures of them to investors.

The Securities and Exchange Commission voted unanimously on Wednesday to propose limits on mutual fund distribution fees and provide more transparency for investors.

The regulator said the company made negligent misrepresentations related to subprime securitizations.

The Securities and Exchange Commission is considering holding five field hearings between September and January as part of a nationwide inquiry on the municipal market that is expected to lead to recommendations for statutory and regulatory changes to better protect investors.

New authority granted to the Federal Reserve by the Dodd-Frank Act embodies a significant change in the thinking about, and approach to, functional oversight.

Not-So-Fab: Fabrice Tourre, the Goldman Sachs bond trader at the center of the government's fraud probe against the firm, denied charges that he misled investors.

In five years as comptroller of the currency, John Dugan did not draw the limelight shined on other regulators. But as he gets ready to depart, there is no shortage of opinions on his tenure.

Goldman’s settlement with the U.S. government comforted some Wall Street analysts who track the bank on Friday and news of the settlement spurred at least one of them to change their outlook on the company.

July 22 - PennNYC Event: Midsummer Soiree With MIT & Yale - 6:30 p.m. - 9:30 p.m. The Highbar, 251 West 48th Street (between Broadway and Eighth Avenue, closer to 8th). RSVP: Marjoree.Chee.c02@alumni.upenn.edu More information: http://www.pennnyc.org/article.html?aid=361&nl=106

The DOL issued an interim final rule on 401(k) plan fee disclosure early Thursday.

The Securities and Exchange Commission said Thursday that Goldman Sachs agreed to pay $550 million and reform its business practices to settle charges that the securities firm misled investors in a subprime mortgage product