WASHINGTON—Although some of the “most profound” proposals in regulatory reform made during the wake of the economic collapse are now not likely to happen, Richard Ketchum, chairman and CEO of the Financial Industry Regulatory Authority said Thursday that the financial services industry still has a responsibility to act aggressively at detecting fraud before it’s cleaning up the mess at the end.

Although some of the “most profound” proposals in regulatory reform made during the wake of the economic collapse are now not likely to happen, FINRA's Ketchum said the financial services industry has a responsibility to act aggressively at detecting fraud before it cleans up the mess at the end.

Most of the trades involved a single penny-stock company.

Sen. Kohl applauds DOL, SEC providing more information to employers and investors alike.

Bernie Madoff's legacy is still influencing the regulatory community.

WASHINGTON—The Treasury Department released interim guidance yesterday instructing municipal issuers how to issue four tax-credit bonds as direct-subsidy bonds, as was authorized by a jobs law enacted in March.

The Newsweek correspondent said “Obama is trying to rally populist sentiment against Wall Street."

Sen. Scott Brown of Massachusetts says the proposed reforms would treat mutual funds like banking products.

The Treasury Department released interim guidance yesterday instructing municipal issuers how to issue four tax-credit bonds as direct-subsidy bonds, as was authorized by a jobs law enacted in March.

WASHINGTON — Republicans, as promised, banded together to block Senate debate on financial regulatory reform legislation Monday, picking up opposition from one Democrat, Sen. Ben Nelson of Nebraska.

As Treasury Secretary Timothy Geithner reached out to Republicans to get them on board with financial reforms, Sen. Scott Brown of Massachusetts, who won the seat vacated by former Sen. Edward Kennedy, vociferously defended the mutual fund industry.

The Hong Kong Securities and Futures Commission said Monday it is seeking court orders to issue a trading ban against New York-based Tiger Asia hedge fund over alleged insider trading and market manipulation.

WASHINGTON -- Industry leaders are worried that newly proposed regulations-such as the financial reforms being debated by the Senate and the Securities and Exchange Commission's large trader reporting system-would seriously hinder market activity. But officials argue that such changes are necessary to bring markets out of the dark.

The Securities and Exchange Commission’s Office of Inspector General found that at least 33 SEC employees and contractors used government computers to view pornographic images in the past five years.

The Department of the Treasury is asking primary dealers what impact the SEC’s revisions to Rule 2a-7 will have.

PE manager Onyx Capital Advisors charged with committing fraud against area pension funds

It appears the best way to broker a compromise on a hot-button issue in the regulatory reform bill is to study it. That, at least, is the approach taken in Senate Banking Committee Chairman Chris Dodd's 1,300-plus-page bill, which includes more than two dozen studies on topics from industrial loan companies to contingent capital to the implementation of the Volcker Rule.

The Financial Industry Regulatory Authority announced Thursday it has reached settlements with units of HSBC and U.S. Bancorp related to the sale of auction-rate securities that became illiquid when auctions froze in February 2008.

The civil suit filed against Goldman Sachs by the Securities & Exchange Commission alleging securities fraud could strengthen the argument to establish a universal fiduciary standard, according to legal experts.

The Department of the Treasury on Friday issued a questionnaire to primary dealers asking them how the SEC’s new money market fund rules, which take effect on May 5, could impact demand for Treasuries and the broader Treasury repo and cash market functioning. Treasury is seeking the information ahead of a meeting with the dealers on April 30.