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.
UBS's Dark Pool Was Shady
This was a big week for the SEC, including levying a $14.4 million fine against UBS Securities for doing bad stuff in its dark pool.
Mass. Regulator Galvin Issues ‘Emergency’ Crowdfunding Exemption
The Massachusetts Securities Division said Thursday that it had adopted a crowdfunding exemption for offerings within the state.
SEC, FINRA Enforcement: Franklin Resources, Chairman Sued for $150M Over Long-Ago Stock Bequest
In another action, FINRA expelled a firm for stock manipulation and barred its CEO, who looted the firm to pay for tattoos and pet care.
UBS Securities to Pay $14M to SEC Over Dark Pool Violations
“Today’s charges are notable for their breadth," says SEC's enforcement chief.
GOP Thwarts Rep. Waters’ Effort to Add User-Fees Bill to Dodd-Frank Package
GOP lawmakers blocked the user-fees bill aimed for the Dodd-Frank rollback package that passed the House on Wednesday.
Why Did the CFP Board Hire Camarda Litigator as General Counsel?
The departure from the CFP Board of Michael Shaw and the hiring of Leo Rydzewski as the Board's first general counsel sends some dispiriting messages.
New Hire Roundup: Morningstar Shuffles Leadership
Meanwhile, the SEC has appointed a new equity market structure committee, which includes FINRA CEO Richard Ketchum.