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.
More Transparency, Please
By Arthur D. PostalConsumer representatives to the NAIC say in a Jan. 16 letter to the Federal Insurance Office (FIO) that effective insurance regulation requires greater transparency and substantive regulation.
January 31, 2012
SEC: Senior Management and Boards That Fail to Support Compliance Face Most ScrutinyCarlo di Florio, director of the SECs Office of Compliance Inspections and Examinations, said Tuesday that the SEC is bent on elevating the role of compliance by underscoring that it is not a responsibility that stops at the desk of the CCO."
January 24, 2012
Industry Groups to DOL: Fiduciary IRA Request 'Difficult'After a Tuesday meeting with DOL over its fiduciary IRA request, industry trade groups are still limited in how much help they can provide.
January 23, 2012
Diamondback Capital Agrees to Settle SEC ChargesThe Securities and Exchange Commission announced Monday that Diamondback Capital Management has agreed to settle charges of insider trading for more than $9 million.
January 20, 2012
SEC Orders Advisor With Ties to Wells Fargo to Explain Actions on Doomed CDOThe SEC ordered investment advisor Lisa Premo to answer questions about her alleged part in overstating the NAV of a fund after a CDO went into default in 2008.
January 20, 2012
Fiduciary Duty Rule: A Status Report One Year LaterJanuary 21 marks the one-year anniversary of the SEC handing over to Congress its report under Section 913 of Dodd-Frank recommending that brokers adhere to a fiduciary duty.
January 20, 2012
New Tool for BDs to Meet FINRA Rule 2111 on Suitability StandardsIpreo launches new compliance certificate to meet revised suitability standard, establishing a BD's ability to exercise independent judgment.
January 19, 2012
The Stanford Ponzi Scheme: A Big, Black Eye for the SEC?Allen Stanford will soon go on trial for a Ponzi scheme. At least one critic believes it will give the SEC and FINRA a bigger black eye than Madoff.