Enforcement Roundup: Wells Fargo, JPMorgan Slammed Over Mortgage Kickbacks
Meanwhile, the SEC charged a Fort Lauderdale-based advisory fund manager and his firm with running a Ponzi scheme to buy jewelry, cars and a house.
FINRA Arbitration Data Under Fire Again
Public interest groups prod FINRA's Arbitration Task Force to push for more transparency.
DNA Holds the Key to What Financial Consumers Want
As with Americans' ignorance of many other matters, most “investors” don’t know a fiduciary from a Form ADV. And they don’t want to.
Obama Signals Support for DOL Fiduciary Redraft
As both sides gird for battle over the DOL measure, expected to be released any day now, the White House appears ready to lend support.
S&P Suspended, Fined Almost $80 Million in SEC, State Cases
Standard & Poor’s agreed to be suspended from rating the biggest part of the commercial-mortgage bond market over claims it bent criteria to win business.
SEC Investment Management Director Champ to Exit
Champ played a key role in the SEC’s money market fund reforms and instituted regular IM Guidance Updates. He will teach at Harvard Law.
Obama’s State of the Union Financial Proposals Draw Praise, Criticism
Industry trade groups and lawmakers were quick to weigh in on Obama's plans, or lack thereof, on cybersecurity, Dodd-Frank, taxes and entitlement reform.
S&P Got a Little Casual With Its Mortgage Ratings
Here's a story the SEC tells about Standard & Poor's 2010 holiday party that ends in $67 million in fines for S&P.
SEC Bans Credit Rater S&P From Big Part of Bond Market
Ban will last a year as part of a $60 million settlement regarding ratings of commercial-mortgage bonds in 2011.
NY Fed’s Dudley, CFAs: Industry Has a Big Trust Problem. Are Advisors the Solution?
To restore investors' trust, Wall Street’s leaders must lead by actions, not words, but advisors themselves are part of the solution.