The SEC has fined BNY Mellon $24 million and has banned a former manager of institutional trading at Mellon Securities from associating with any broker dealer firm after carrying out what it called an “eight-year best execution fraud.”

A coalition of financial planning experts urged lawmakers to keep the U.S. Securities and Exchange Commission in charge of investment advisor regulation for the sake of cost and efficiency, just days ahead of several federal reports on the industry due next week.

But will a new self-regulator be the new reality?

The Federal Deposit Insurance Corp. board is scheduled to move ahead on new resolution powers and discuss executive compensation structures at a meeting Tuesday.

A group of House Financial Services Democrats are raising questions about whether taxpayers will be fully protected under the terms of a recent settlement over poorly underwritten loans held by Fannie Mae and Freddie Mac.

Schwab will pay $118 million to settle the charges.

The Securities and Exchange Commission charged Charles Schwab with making misleading statements about its Schwab YieldPlus Fund. Schwab agreed to pay $118 million to settle the charges.

Four out of five organizations that currently include money market funds in their short-term investment portfolios would drop them if a floating net asset value were to become a reality, according to a survey by the Association for Financial Professionals.

The Independent Directors Council on Tuesday urged regulators to preserve the $1 net asset value of money market funds, saying a floating NAV would not reduce systemic risk in any meaningful way.

According to a survey, four in five corporations could drop money market funds from their portfolios if funds are required to shift to a floating net asset value reporting structure.

Matt Fink, former president of the ICI, comments in the latest edition of his book on how another financial crisis may one day be in the making.

As directors and officers of failed banks brace for FDIC lawsuits, an intense legal battle is developing over accessing files at their former institutions.

In 2008, Oxford University Press published the first history of mutual funds, THE RISE OF MUTUAL FUNDS: AN INSIDER’S VIEW, by Matthew P. Fink, former president of the Investment Company Institute. Oxford has just published a new paperback edition, updated to cover the 2008 financial crisis and its impact on mutual funds. The following is the Preface to the new edition.

From a psychic who couldn’t see the future to the car czar caught up in a pay-to-play hustle, this was the year in deception.

For the past two years, the FDIC has maintained a consistent crisis-response posture. But it will undoubtedly need to pivot in a new direction in 2011.

The Securities and Exchange Commission late Thursday obtained an emergency court order to freeze the assets of SJK Investment Management in Greensboro, N.C.

There are two proposed pieces of legislation sitting in Congress that would seem to be no-brainers for helping people save for retirement and helping advisors help their clients.

There are two proposed pieces of legislation sitting in Congress that would seem to be no-brainers for helping people save for retirement and helping advisors help their clients.

A case brought by Oppenheimer & Co. failed to prove allegations that Citigroup Global Markets Inc. unlawfully raided its firm of nine high producing brokers, a Financial Industry Regulatory Authority panel has ruled.

The operations chief for Bernard L. Madoff Investment Securities and his personal assistant are petitioning a New York court to be released from jail.