The last decade has been rough for the mutual fund industry. This means boards of directors must have the tools for overseeing compliance and take on the oversight.

On August 10, 2012, The Securities and Exchange Commission Friday charged a Florida-based investment manager and his firm for failing to provide SEC examiners with records of a mutual fund advisory business that invested in NASCAR-related stocks.

FINRA levied almost $40 million in fines in the first half of the year and will likely doll out as much or more through the end of the year.

The Municipal Securities Rulemaking Board released a proposal Thursday aimed at increasing protection for retail investors who trade municipal bonds online.

A key government witness against three former UBS AG municipal-bond executives in a bid-rigging trial called one of the defendants an "idiot" and was asked today whether he disliked him so much that he put photos of tortured cats on his desk.

On August 8, 2012, Mary Schapiro, chairman of the Securities and Exchange Commission, is looking to turn $2.6 trillion money-market mutual-fund industry on its head.

A former UBS AG municipal-bond executive told an ex-colleague to forget about a transaction as they discussed how to handle an expanding government probe of bond big rigging, the second man testified at trial.

Sandy Weill's call to break up the big banks by restoring the Depression Era law has sparked a backlash among some who argue it would not help prevent the next crisis.

On August 8, 2012, David Wray, president of the Plan Sponsor Council of America, will retire from his post as president of the PSCA at the end of September.

FINRA has fined Wedbush Securities $300,000 and levied an additional $25,000 fine and suspension for its president, Edward Wedbush.

On August 7, 2012, Morrison & Foerster has added two Of Counsels to its Denver office.

The head of the House Financial Services Committee is renewing his call to act on legislation to increase oversight of investment advisors, a bipartisan bill that stalled in the committee last month.

Chairman Mary Schapiro said she is asking SEC staff to propose a rule that will require exchanges and market centers to ensure the capacity and integrity of the systems they operate.

As legal eagles-including regulators, cops and attorneys-continue to swoop down for the kill in the wake of the LIBOR debacle, asset managers still struggle to gauge the scandal's impact on their investments.

On August 7, 2012, As legal eagles-including regulators, cops and attorneys-continue to swoop down for the kill in the wake of the LIBOR debacle, asset managers still struggle to gauge the scandal's impact on their investments.

On August 6, 2012, Chairman Mary Schapiro said she is asking SEC staff to propose a rule that will require exchanges and market centers to ensure the capacity and integrity of the systems they operate.

The investors who bailed out Knight Capital Group Inc. by purchasing $400 million in convertible securities are gaining control of the biggest trading partner for individuals in the world’s largest stock market.

On August 6, 2012, Since the Reserve Primary Fund broke the buck in September 2008, the nation's money market mutual funds have seen a long, steady erosion of their use by corporations and financial institutions.

On August 3, 2012, An arbitration panel has struck down an investor’s $1 million-plus claim against Morgan Keegan’s troubled bond funds, citing the standard industry warning “Past performance is not guarantee of future results.”

Attention, asset managers: The Registered Investment Advisor channel is one place where you can differentiate your offering in a crowded marketplace, according to Cerulli Associates.