Law and regulation

UBS sought damages for breach of employment contract; an ex-UBS advisor countered that he brought in $20 million in net new assets.

Senate Democrats hammered William Dudley, president of the Federal Reserve Bank of New York, at a highly anticipated hearing on Friday, demonstrating the growing pressure the central bank is under to take harsher actions against banks and restrict examiners from defecting to institutions after leaving service.

Asset managers have become consultants to financial advisors seeking help with business development and practice management in an effort to stand out in a crowded marketplace.

Steven A. Cohen’s new firm will stop collecting employees’ best trading ideas for a central investment pool and rewarding them with a special bonus, a practice that the U.S. government said created wrong incentives at his former hedge fund SAC Capital Advisors LP.

The San Diego-based advisor allegedly participated in private securities transactions that resulted in two elderly investors losing more than $340,000.

There are no jurisdictional walls when it comes to the damaging effects of net asset value errors. This realization and the global collaboration taking place to address it are creating the new, global standard for "best practice" with or without the existence of domestic or foreign regulatory policy.

A FINRA arbitration panel ordered an ex-Merrill Lynch advisor to pay his former employer more than $400,000 in damages.

FINRA hands out 18-month suspension, $10,000 fine and $233,000 in 'disgorgement' for selling away and nondisclosure issues, documents say.

As the pace of cyberattacks increases, asset managers are taking a hard look at their cyber insurance coverage to make sure that it will cover them should they become a target.

As the pace of cyberattacks increases, asset managers are taking a hard look at their cyber insurance coverage to make sure that it will cover them should they become a target.

The two self-regulators are proposing rules that would require dealers as principals to disclose to customers a “reference price” of the same security traded that same day as well as the difference between that price and the customer’s price.

Point72 Asset Management said it took a 5.1% passive stake in RCS in a Nov. 14 regulatory filing.

Advisors need to face a hard truth: Independent RIAs have lost this round. Fortunately, there are other, better ways to set yourself apart.

Regulators say clearing firm noticed an “irregularity;” SEC says thefts occurred over a 10-year period.

FINRA arbitration panel sides with a former Commonwealth Financial Network client who claims he lost his retirement savings due to bad retirement planning advice.

Federal prosecutor Loretta Lynch may soon replace Attorney General Eric Holder, leaving bankers wondering whether she will be tougher on institutions than her predecessor.

SEC Chair Mary Jo White declined to specify her position on the coming fiduciary standard rule or when the regulator may issue it.

The Fix LA Coalition, an effort spearheaded by labor unions and its allies, wants Los Angeles City Attorney Mike Feuer to file a regulatory complaint against the underwriters involved in 2006 interest rate swaps saying the risks weren't disclosed.

Regulators' patience is running thin for banks that continue to overindulge in leveraged loans despite repeated warnings from the agencies over the past two years.

Clients who retire early should consider withdrawing from their 401(k) with an eye toward delaying Social Security; Plus, a new way that 401(k) participants are able to convert their savings into steady retirement income.