Schwab Settles 2009 Auction-Rate Securities Suit
New York claimed Schwab engaged in “fraudulent and deceptive conduct” in promoting the investments.
Fiduciaries to Pay $39M for Raiding Death Benefit Plans; Outcry Over DOL Rule Continues
A federal court entered a $39.8 million judgment in favor of workers who participated in more than 400 death benefit plans.
The Medium Is the Message, When the Subject Is Investor Protection
The Committee for the Fiduciary Standard suggests mainstream media have an important role in investor protection, but I wonder if the emphasis is misplaced.
SEC Names Pamela Dyson Chief Technologist
As chief information officer, Dyson will work with Chairwoman White, commissioners and staffers to incorporate technology into SEC programs.
Enforcement Roundup: Ex-CCO Sues Over ‘Defamatory’ Form U5
In another action, the SEC charged five offshore entities with offering and selling unregistered penny stocks.
IAA Names Grohowski General Counsel
He will replace IAA's longtime general counsel, Karen Barr, who became the association’s new president and CEO in November.
SEC to Mull Accredited Investors, Advisor Succession Plan Rules
At Investor Advisory Committee meeting, Mary Jo White talks of fiduciary rule, advisor exams, succession plans and TDF rules.
Senate Finance Passes 17 Tax Bills
Changes to REITs, enrolled agents and small insurance companies are included in the package.
Bank of America Mixed Serious Banking and Fun Swaps
There is a widespread belief that banks shouldn't be using insured deposits to fund the creepy activities of their bond-trader and investment-banker colleagues.
Wall Street Finally Blinks in Fiduciary Standoff
The securities industry has done a masterful job of deflecting initiatives to force firms to act in clients' best interest. Is it different this time?