Law and regulation

The Certified Financial Planner Board of Standards has unveiled a new framework for its disciplinary arm to follow when taking action against a member, the first such standards the certification group has issued in its history.

Sy Sacks is on a crusade.

The starter's pistol is about to be fired for the swaps industry.

Estee lauder’s chief executive officer, Fabrizio Freda, is giving BlackRock, Inc.’s Board of Directors a makeover. Well, sort of.

House Republicans have charted a course for expedited tax reforms next year in case they control Congress and the White House.

On July 26, 2012, BlackRock Inc., Fidelity Investments and Vanguard Group Inc., firms that collectively manage more than $7 trillion, are gauging how their clients have been hurt by Libor manipulation and whether to take legal action as at least a dozen banks are being investigated for rate-rigging.

As sharp lines have emerged within a prominent House committee over how to step up examinations of investment advisers, the panel's chairman has signaled that no legislation will advance without broad, bipartisan consensus.

The Commodity Futures Trading Commission said the futures commission merchant based in Greenwich, Conn., failed to properly supervise the reporting of activity in accounts of large traders.

Comments by former Citigroup chief executive Sandy Weill reignited the debate over whether to separate commercial banking from investment banking.

House Democrats on Wednesday introduced legislation that would expand the role of the SEC to conduct oversight examinations of investment advisors, a segment of the financial services sector that lawmakers on both sides of the aisle have agreed is under regulated.

On July 24, 2012, The Board of Trustees of Direxion Funds is liquidating the Direxion HY Bear Fund based on the recommendation of the fund’s investment adviser, Rafferty Asset Management, LLC, according to a Securities and Exchange Commission filing.

According to an SEI poll, 44% of wealth managers said dealing with ongoing and ever-evolving regulatory changes will be their firms’ top priority this year.

U.S. senators Jack Reed and Charles Grassley introduced a bill to authorize the Securities and Exchange Commission to impose bigger sanctions after the agency said it didn’t have adequate tools to deter financial fraud.

The advocacy organization sent a letter of comment to the SEC citing the impact a fee hike could have on independent firms.

Phillip D. Murphy, a former manager of municipal derivatives products at Banc of America Securities LLC, now Bank of America Merrill Lynch, was indicted by a federal grand jury on three counts of conspiracy and wire fraud in connection with a fraudulent scheme to rig bids for municipal-bond related investment agreements.

On July 23, 2012, Paul Schott Stevens has been president and chief executive of the Investment Company Institute since 2004.

Mutual funds get hurt each time a crisis hits capital markets.

Airgead Clann, a California independent investment advisor, announced they will proceed with a FINRA arbitration against Charles Schwab regarding the abrupt termination of their investment manager service agreement in October.

New analysis from a nonpartisan group shows that JPMorgan officials accounted for 18% of all industry meetings with the Fed concerning Dodd-Frank implementation over the past two years, while JPMorgan accounted for 17% of all meetings with Treasury. Goldman Sachs, which also held hundreds of discussions with regulators, focused mainly on the CFTC.

On July 19, 2012, It may seem completely crazy to compare the use of social media with sexual harassment.