Law and regulation

The Financial Services Institute issued a letter arguing an SRO modeled after FINRA is the best of all alternatives, and FINRA rebutted criticism of its cost estimates for an investment advisor regulator.

A broker has consented to pay a $10,000 fine and take a suspension of 15 business days in response to allegations that he incorrectly marked trades and prevented his firm’s compliance department from accurately monitoring the transactions.

Executives from BlackRock, Vanguard, JPMorgan Chase, and Invesco met with SEC Chairman Mary Schapiro to talk about money market reforms.

Hartford Financial Services Group Inc. last September put the brakes on its effort to sell its mutual-fund unit to private equity shop Clayton Dubilier & Rice LLC after banks cut back on lending for leveraged buyouts.

On May 25, 2012, the Wall Street Journals reports that Executives from fund giants BlackRock Inc., Vanguard Group Inc., J.P. Morgan Chase& Co. and Invesco Ltd. earlier this month met with Securities and Exchange Commission Chairman Mary Schapiro to talk about money market reforms.

The former SEC enforcement lawyer who later tried to defend convicted Ponzi scheme operator Allen Stanford has been blocked from practicing before the commission.

A House Financial Services Committee will begin hearing testimony for and against a controversial bill that would shift regulatory oversight of investment advisors from the SEC to a self-regulatory organization such as FINRA.

The Financial Industry Regulatory Authority reviewed enforcement case trends at its annual conference in Washington, D.C. this week. Here are 25 top cases from its files.

On May 23, 2012, Los Angeles-based Causeway Capital Management LLC has replaced Pzena Investment Management, LLC as subadviser to the Harbor Global Value Fund effective May 25.

Whether it's Facebook, Twitter or LinkedIn, financial advisors need a handy resource to keep them abreast of all the latest rules and trade secrets to capitalize on the social media frenzy without running afoul of the regulators. Here's everything wealth managers need to know.

When it comes to financial planning advice in the social media arena, less is almost always more. Here's what wealth managers need to do (and not do) to service their clients while staying within the regulatory boundaries.

Seven tips come in daily under the program that started in August. Thomas Sporkin, director of market surveillance at the SEC, says two to three each day are high quality.

Asset management companies can anticipate regulatory focus to intensify as implementation of the Dodd-Frank Wall Street Reform Act progresses - and not just from the Securities and Exchange Commission.

Asset management companies can anticipate regulatory focus to intensify as implementation of the Dodd-Frank Wall Street Reform Act progresses -and not just from the Securities and Exchange Commission.

On May 22, Pioneer Investments put in a new portfolio management team in place to manage the Pioneer Cullen Value Fund (CVFCX), effective August 1.

Talk coffee, not college savings plans. That avoids potential compliance issues. Besides, visitors to social media sites are coming to learn about who you are, not what you sell.

On may 22, 2012, Value Line Funds’ shareholders approved combining the Value Line New York Tax Exempt Trust (VLNYX) into the Value Line Tax Exempt Fund (VLHYX).

Advisors should encourage their clients to take advantage of current gifting opportunities, now that individuals can give others cash gifts up to $13,000 tax-free.

Pending legislative decisions around the fiduciary requirement for all advisors is not a threatening issue, Raymond James Financial Services Chairman Dick Averitt told a packed general session at its National Conference for Professional Development on Monday.

The head of the Financial Industry Regulatory Authority said he’d like to see regular reviews of broker operations, to find and address potential conflicts of interest.