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.
MF Global’s Corzine Tells Congress: I Don’t Know Where the Money Is
By James J. GreenIn a halting and nearly hoarse delivery, an apparently humbled Jon Corzine, the former chairman and CEO of the now bankrupt MF Global, testified Thursday before the House Agriculture Committee.
December 08, 2011
House Approves 'Mother of All Anti-Regulatory Bills' (The Hill)The House on Wednesday passed legislation that would require Congress to approve all major federal regulations with an effect of $100 million or more, a Republican attempt to rein in what they see as the expanding regulatory burden faced by companies across the country.
December 08, 2011
SEC Says Wachovia Rigged Muni Bids; Bank to Pay $46 MillionThe SEC charged Wachovia Bank on Thursday with fraudulently engaging in secret arrangements with bidding agents to improperly win business from municipalities and guarantee itself profits in the reinvestment of municipal bond proceeds.
December 05, 2011
DOL Faces Bi-Partisan Pushback Against Proposed Fiduciary StandardFifty-five House Republicans today joined 30 House Democrats in requesting that the Department of Labor significantly narrow its definition of "fiduciary" in a rule the agency is currently drafting that would impact the sale of retirement products.
December 02, 2011
Timing of SEC’s Fiduciary Rule Debated at CFA Conference (AdvisorOne)The timing of the SEC's proposed fiduciary rule continues to be debated, although most insiders feel confident that it will happen.
December 02, 2011
Judge Rakoff Says Goldman's Blankfein Can Testify in Insider Trading CaseControversial Federal judge orders that deposition can be taken before Rajat Gupta insider trading trial.
December 01, 2011
Party CrashersThe Securities and Exchange Commission is signaling to industry lawyers it is focusing on the disclosures involved in annuities that provide living benefit riders.
December 01, 2011
Timing of SEC’s Fiduciary Rule Debated at CFA ConferenceWhile optimism remains that the Securities and Exchange Commission will issue a rule putting brokers under a fiduciary mandate, the question being debated among industry and consumer officials is exactly when it will happen.