Federal Regulation
Get the latest news and insights on regulatory developments affecting financial advisors and the stock market and trading, including news about the SEC, DOL, IRS and the Financial Industry Regulatory Authority.
FINRA Fines Citigroup for Inaccurate Mortgage Data
By Melanie WaddellFINRA announced Tuesday that it had fined Citigroup Global Markets $3.5 million for providing inaccurate mortgage performance information, supervisory failures and other violations related to mortgage-backed securities.
May 21, 2012
FINRA CEO: BrokerCheck Revamp Won’t Include Test ScoresAt FINRA's annual conference, Richard Ketchum on Monday addressed concerns from brokers and advisors over test scores on the revamped BrokerCheck and other key issues.
May 18, 2012
PPACA: IRS Releases Final Health Tax Credit RegulationsHSA and HRA contributions won't affect affordability; workers with affordable, self-only group coverage might get credits for family members.
May 18, 2012
Ways and Means Eyes Tax-Exempt HospitalsA witness says hospitals still need guidance from the IRS on how to handle patients who can't pay their bills.
May 17, 2012
FINRA Updates BrokerCheck With More Advisor InformationSeveral of the changes implemented by FINRA address recommendations made in a January 2011 study by the SEC.
May 16, 2012
Schwab to Close Broker-Dealer BrokersXpressBrokersXpress, the specialty broker-dealer owned by Schwab under OptionsXpress Holdings, reportedly told advisors and clients on Wednesday that it would shut its doors.
May 16, 2012
Nonbank SIFI "Dragnet" for Fed Supervision Targeted at Hill HearingMetLife does not know if the FSOC will feel compelled to name MetLife and a few other large insurers as SIFIs, and officials won't say, but lawmakers and MetLife wonder about the wisdom and the possible harmful effects of applying bank-centric regulations to an insurance company.
May 16, 2012
Judge Pushes Schwab Suit Against FINRA to Disciplinary PanelA federal judge dismissed a legal action filed by Charles Schwab against FINRA challenging a complaint FINRA levied against Schwab on Feb. 1.