Law and regulation

'We were not as proactive as we should have been,' the CFP Board says, rolling out two initiatives aimed at resolving advisors' incorrect fee-only disclosures on its website.

FINRA CEO Richard Ketchum praised one SEC commissioner for floating a new proposal to beef up examinations of the RIA industry independently of Congress.

Securities Industry and Financial Markets Association president and chief executive officer Kenneth Bentsen criticized recent efforts by the Securities and Exchange Commission to further regulate the muni market, telling issuer officials on Tuesday that a new rule and initiative could undermine productive relationships between municipalities and underwriters.

Just a day after a top SEC official hinted at discord within the commission about an expansion of fiduciary rules to include brokers, a voting member of the agency spoke out in opposition to the proposal, at least until supporters can build a stronger case.

The contentious issue of harmonizing fiduciary responsibilities remains high on the agency's to-do list, though a timeframe for when a proposal might materialize is far from certain.

FINRA pledges more vigorous enforcement while at the same time dropping an information submission requirement for brokers from the controversial proposed data-collection program known as CARDS.

With Credit Suisse Group AG poised to become the first bank in more than a decade to admit to a crime in the U.S., regulators have been reaching out to some of the firm’s biggest business partners to avert a panic, according to a person briefed on those communications.

The board offered individual counsel to NAPFA members in violation of board rules, an ongoing conflict without imminent resolution.

Democratic lawmakers on the Senate Banking Committee sounded off against bipartisan legislation to overhaul the mortgage finance system on Thursday, opposition that likely all but ruins the bill's chances of making it to the chamber floor this year.

Social media isn't verboten, but it's crucial that planners know the rules.

The House Ways and Means Committee may have broken the law when it publicly disclosed confidential taxpayer information in a letter to Attorney General Eric Holder.

Judge tells board to produce documents, denies Camardas their request for sanctions; CFP Board sends documents to plaintiffs.

Douglas Cowgill, the firm's president and chief compliance officer, attempted to disguise the shortfall from SEC examiners by entering a fake trade in the firm's account records, according to the SEC complaint.

Barclays Plc, Credit Suisse Group and UBS will face questions this week about key banker departures, legal challenges and their efforts to boost profitability.

The advisor appealed FINRA's decision to suspend him for 90 days after the regulator extended the original 10-day suspension. Now, he's appealing his case to the SEC.

SEC Chairman Mary Jo White also lamented the commission's inadequate oversight of the RIA sector amid limited resources and an understaffed team of examiners, telling lawmakers she hopes to expand the examination staff through a $1.7 billion appropriation.

Bank of America's discovery that it submitted incorrect information to the Federal Reserve Board during its recent stress test could undermine what has already become an overly complex exercise.

Hedge funds and private-equity firms have created bogus service providers to boost fees they charge to portfolio companies and investors, SEC Chair Mary Jo White will tell lawmakers in Washington today.

FINRA is moving to toughen reporting requirements for BrokerCheck, following revelations that hundreds of registered advisors have failed to publicly disclose personal bankruptcies, criminal charges and other potentially damaging information.

In a court filing, the CFP Board says it has logged more than 2,000 hours of legal work in a lawsuit by two Florida planners.