IRS, Treasury Halt Buyouts of Retirees Getting a Pension
The Pension Rights Center applauds the move, calling the buyouts “among the most cynical and dangerous pension abuses we’ve seen.”
IRS, Treasury Close Alt Investment Tax Loophole
Sen. Ron Wyden applauds the move to "bring the hammer down on these basket options once and for all."
Advisor, Race Car Driver Convicted of Bilking NHL Players
A federal jury has convicted an advisor and a part-time race car driver on charges of wire fraud, wire fraud conspiracy and money laundering conspiracy.
Wells Fargo Grabs Morgan Stanley, Merrill Reps as Raymond James Nabs UBS Team
The four new Wells Fargo advisors come on board with some $900 million in assets; the new RJ group has some $300 million.
Enforcement: Chase to Pay $136M Over Debt Collection Practices
Meanwhile, FINRA barred five brokers for a sham private placement offering.
Bill Allows SEC to Greatly Boost Fines
SEC Penalties Act increases the per-violation cap for serious offenses to $1 million per violation for individuals and $10 million for firms.
Presidential Candidate O’Malley Unleashes Wall Street Crackdown Manifesto
The 10-page manifesto by former Gov. Martin O'Malley of Maryland promises to boost regulators' budgets and punish misbehaving banks more harshly.
The SEC and FINRA Proclaim: Trust No One!
Our industry doesn't deserve to be painted by regulators with the lowest common denominator. Case in point: the SEC actions against CCOs
Tax Working Groups Submit Reports to Senate Finance
The Senate Finance Committee's five bipartisan tax writing working groups submitted their reports Wednesday to the committee’s leaders on ways to reform the tax code.
Regulator Slams Securities America, Advisor Over Alzheimer’s Ad
The IBD denies charges that it failed to supervise an advisor and his "grossly deceptive" radio marketing efforts in Massachussetts.