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 Arm Over Corporate Bond Transactions
By Melanie WaddellFINRA on Monday fined Citi International Financial Services $600,000 and ordered more than $648,000 in restitution and interest to more than 3,600 customers for charging excessive markups and markdowns on corporate and agency bond transactions.
March 19, 2012
HighTower’s Weissbluth: ‘Brokers Are Butchers; Fiduciaries Are Dietitians’Elliott Weissbluths two-and-a-half minute whiteboard animation video recently posted on YouTube calling brokers butchers and fiduciaries dietitians is drawing quite a bit of attention.
March 16, 2012
SEC’s Schapiro Opposes Stopping Money Market ReformsDespite the deluge of comments opposing the SECs plans to soon issue a rule to further reform money market funds, SEC Chairman Mary Schapiro insisted Thursday that the funds still have structural flaws that must be addressed.
March 16, 2012
FINRA’s 5 Key Enforcement Trends to Watch in 2012The significant jump in fines issued by FINRA in 2011 provides a look into the top areas that the regulator will be focusing on in 2012, according to the law firm Sutherland Asbill & Brennan.
March 15, 2012
Blistering Criticism of JOBS Bill May Push Senate ChangesA House bill intended to benefit business startups and stimulate job creation has been so sharply criticized on its way to the Senate that opponents may prevail in strengthening consumer protections they say were trashed.
March 15, 2012
SEC Adds 130 Examiners for ‘Priority’ Areas: Exam Chief di FlorioCarlo di Florio, director of OCIE, told CCOs that the SEC has hired 130 new examiners over the last 18 months and that the agency is focusing on three 'priority' areas when it comes to advisory firms.
March 15, 2012
What’s Behind Congressional Freeze on SEC Funding?In part one of a two-part series on the Bizarro World inside the beltway, a skeptical observer suggests theres a method to the madness of starving the SEC of what it needs to do its job.
March 14, 2012
MetLife Fails Federal Reserve "Stress Test"MetLife was one of four large financial institutions late Tuesday deemed to have failed a stress test imposed on large banking institutions by the Federal Reserve Board, a decision roundly criticized by MetLife and insurance analysts.