Law and regulation

Charles Hallac, who conceived BlackRock’s investment management platform and founded its advisory business, has died. He was 50.

Bennett and her firm claimed to be managing more than $2 billion in assets when the real number was no more than one-fifth of that amount, the SEC alleges.

Though technical issues with Bank of New York Mellon's fund accounting system left an estimated 10% of U.S. ETFs and some mutual fund providers unable to accurately price their products for nearly a week, the bank's custody business is expected to remain intact.

The firm suffered another arbitration loss this week to clients seeking damages related to the firm's closed-end funds of Puerto Rico municipal bonds.

Industry arguments against the DoL’s fiduciary rule proposal do not consider the digital revolution in financial advice.

Banks and credit unions have traded barbs for years with much of the banks' discontent aimed at credit unions' tax exemption.

Bank of New York Mellon, which has been plagued for the past week with computer problems that prevented it from providing prices for mutual funds and ETFs, said today it has provided net asset values for both through Friday.

Getting kicked out of the industry doesn't mean an end to payments from the sale of a book of clients. Plus, knowing whether FINRA’s suitability rule applies to foreign clients.

The Board also sanctioned 19 other advisors, including one who allegedly lied about taking an exam on behalf of another advisor.

Investment managers facing tough questions from regulators over what caused trading disruptions for hundreds of exchange-traded funds this week said they got hit by a double whammy.