Law and regulation

Only about 2,100 SEC-registered investment advisors switched their registration to state oversight, according to the North American Securities Administrators Association -- roughly half the number that the SEC estimated would switch as a result of the Dodd-Frank Act.

The Securities Industry and Financial Markets Association named former New Hampshire governor and U.S. senator Judd A. Gregg as its next chief executive officer. Gregg is known for advocating bipartisan approaches to balancing the national budget.

The Financial Industry Regulatory Authority will present the latest on fiduciary rules, enforcement and other issues affecting financial advisors at its annual three-day annual conference opening today in D.C.

The House passed a controversial bill on Friday requiring the Securities and Exchange Commission to conduct additional economic analysis on its rules.

A U.S. District Court ordered a former Ameriprise advisor to serve a year of house arrest and pay restitution for defrauding a client.

New rules being considered for U.S. money-market mutual funds will make them safer for investors while forcing some smaller providers out of the business, Moody’s Investors Service analysts said this week in a research report.

JPMorgan Chase & Co., Goldman Sachs Group Inc. and the world's largest banks won rollbacks in final Dodd-Frank Act rules that promise to transform the private swaps market by increasing competition.

SEC Chair Mary Jo White defended the agency's request for a significant budget increase before a House oversight committee, arguing that the additional funding is necessary to equip the SEC with the resources to handle a litany of regulatory tasks, including increased examinations of investment advisors and enforcement actions.

It is vital that firms and financial advisors be aware of the stakes involved in the SEC's suit against the SIPC writes FSI president and chief executive of the Financial Services Institute, Dale E. Brown.

Securities regulators are reviewing a proposal that would require the riskiest money-market mutual funds to adopt a floating share price, according to a person familiar with the matter.

A group of bankers advising the Federal Reserve urged U.S. regulators to consider preventing Wal-Mart Stores Inc. from offering some financial services.

The U.S. Securities and Exchange Commission is reviewing its practice of settling cases without requiring defendants to admit guilt, the agency’s chairman said today in congressional testimon

The Dodd-Frank Act, which was designed to target the largest institutions, will end up hurting community banks, according to a paper released Tuesday by the conservative American Enterprise Institute.

Legislation that would streamline the registration process for broker-dealers and advisors in Florida is one step closer to becoming law, with the state senate following the lower chamber in voting to approve the measure, which now awaits the governor's signature.

The Securities and Exchange Commission named Andrew J. Bowden director of its national exam program, replacing Carlo V. di Florio who is leaving next month to join the Financial Industry Regulatory Authority.

SEC chairman Mary Jo White made no comment Friday on what new reforms for the money market fund industry will come out of her administration, except that its proposal will be “appropriate and balanced.”

FINRA has named a senior Treasury Department official to serve as the group's first chief economist.

The Consumer Financial Protection Bureau is recommending that policymakers implement a nationwide financial education program into grade school as well as standardized tests.

New rules to disclose recruitment compensation may be blooming soon.

Our legal expert discusses things to consider before making a referral to a nonaffiliated third party.