Law and regulation

The SEC says an advisor with Wells Fargo's FiNet used client funds to help inflate the price of several stocks.

Undaunted by the failure of a rider to the federal budget bill, the new legislative initiatives will try to once again strangle the Labor Department fiduciary proposal.

Fired adviser Johnny Burris complained the firm forced him to sell unsuitable products to clients, long before it acknowledged to the SEC it “violated the federal securities laws.”

The fraudster swindled nine Fidelity customers out of more than $1 million over a seven-year period.

Tammy Petersen will be on federal probation for three years and will have to complete 200 hours of community service for embezzling more than $118,000 from Bank of America customer accounts.

State Street said it incorrectly invoiced at least $200 million in asset servicing expenses to clients over a period of 18 years and will compensate customers.

After losing dozens of advisors who managed billions in client assets to UBS, scorned Credit Suisse strikes back with legal challenge.

Regulator could make some "immediate" changes; arbitration reform advocate says he's "hopeful."

As lawmakers broker a compromise to keep the government funded, industry groups vow to continue the fight to delay Department of Labor's controversial advisors rules.

The last review was seven years ago.

Advisors can tell clients that the Fed will likely be very cautious in the months to come, says columnist Kimberly Foss.

The Financial Stability Oversight Council was characterized as an enigmatic interagency body that has not provided enough rationale for designating certain financial firms as a threat to the economy.

Scott Minerd, global chief investment officer at Guggenheim Partners, predicts 10% to 15% of junk bond funds may face high withdrawals as more investors worry about getting their money back.

As signs of stress mount in credit markets, a $788 million mutual fund is blocking clients from pulling their money so its holdings can be liquidated in an orderly fashion.

The advisor is asking a judge to spare him from prison, saying he took the data to analyze client information from home so he could do a better job.

It’s rare that advisors leave the Christian-oriented independent firm, a spokeswoman says.

A proposal to require the Labor Department to respond to the volumes of comment it received on the proposal would create a delay that fiduciary advocates say would run out the clock on a vital consumer protection.

Expect an "increasing adversarial relationship between industry and regulators" says MarketCounsel’s Andrew Wels.

A battle has erupted over a breakaway broker accused of breaching her contract with Oppenheimer when she solicited proprietary accounts after jumping to Ameriprise.

The credibility of the big banks is on the line while regulators face their own test in striking a reasonable balance between being too easy on the banks and unrealistic in their expectations.