Dodd-Frank Rollback Bill Advances in Senate
The Senate Banking Committee passed on a sharp party-line vote Thursday the Financial Regulatory Improvement Act. Democrats including Sen. Warren blasted the bill.
SEC Charges Atlanta Advisor With Defrauding Police, Firefighter Pension Plans
Firm breached its fiduciary duty by selling unsuitable investments to pension funds for the city’s police, firefighters and transit workers, the SEC says.
Perfect Insider Traders Got Caught
If there's one thing that insider traders like almost as much as playing golf, it's failing to recognize their own fathers' names in FINRA inquiries.
Bank Overseer Lawsky to Depart, After Making New York $6B Richer
Benjamin Lawsky will step down next month as New York’s top bank regulator. He plans to set up a cybersecurity consulting firm.
On Wall Street, if You Earn More You Cheat More, Study Finds
More than a third of the highest paid financial professionals have firsthand knowledge of wrongdoing, and many say compensation plans incentivize lawbreaking, the study found.
SEC Wants Form ADV Changes
The SEC approved Wednesday a plan to require advisors to provide more data on separately managed accounts, branch offices and social media on Form ADV.
Six Banks to Pay $5.8 Billion, 5 Plead Guilty to Market Rigging
The charges and settlement are tied to the banks' manipulation of foreign-exchange trading, according to the Justice Department.
SEC Said to Propose That Mutual Funds Disclose Risk of Rate Rise
The SEC is set to propose a requirement that mutual-fund companies report how vulnerable their bond portfolios are to interest-rate changes, two people familiar with the matter said.
UBS to Plead Guilty on Libor, Settle Currency Probe With Fed
UBS Group AG will pay $545 million to settle U.S. investigations into its role in manipulating currency and interest rates, removing two of the bank’s biggest legal hurdles.
Clients Deserve a Clear Choice Between Sales and Advice
There's nothing wrong with commissions as long as the “clients” understand that they are getting “sold” rather than “advised.”