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.
Dodd-Frank: Progress Report on Law’s Key Elements
By Melanie WaddellThe law firm Davis Polk & Wardwell on Tuesday released its latest Dodd-Frank progress report on where the various regulators stood on their implementation of the act.
December 29, 2011
SEC Goes After Deutsche TelekomThe Securities and Exchange Commission sued Deutsche Telekom and its Hungarian telecommunications unit Magyar Telekom in federal court in Manhattan on Wednesday, alleging violations of the Foreign Corrupt Practices Act, which prohibits paying bribes to foreign officials. Three former officials of Magyar were also charged in a separate filing with...
December 28, 2011
New Year, New Fiduciary Rule?While SEC Chairman Mary Schapiro said in mid-December comments first reported on Bloomberg that the agency would issue a proposed fiduciary rule this year, she also stated in the Bloomberg interview that a fiduciary rule proposal will be business model neutral and allow brokers working with retail investors to sell...
December 28, 2011
Corzine, Madoff and ‘Good’ AdvisorsI felt bad for Jon Corzine as he took his (subpoenaed) seat at a House Agriculture Committee hearing on Dec. 8.
December 28, 2011
Frank Not Acting Like Lame Duck; No Fan of SRO BillRep. Barney Frank, the straight-talking Massachusetts Democrat who serves as ranking member on the House Financial Services Committee, announced in late November that he wont seek re-election and plans to retire from Congress at the end of 2012.
December 28, 2011
FINRA Fines Credit Suisse $1.75 MillionFINRA announced Tuesday that it has fined Credit Suisse Securities $1.75 million for violating Regulation SHO and failing to properly supervise short sales of securities and marking of sale orders.
December 28, 2011
IRS Shows Mercy and Allows Stretch IRAThe IRS recently took the unusual step of permitting a taxpayer to undo a lump-sum IRA distribution and avoid taxes and penalties.
December 28, 2011
SEC Wins Delay in Citigroup CaseThe Securities and Exchange Commission on Tuesday was granted a two-week delay in its securities fraud case against Citigroup as it seeks to have a judge's decision to toss its settlement with the bank reversed.