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.
Frank Not Acting Like Lame Duck; No Fan of SRO Bill
By Melanie WaddellRep. 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
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.
December 27, 2011
Tax-Exempt Organizations Get Deadline ExtensionSome tax-exempt organizations got an extra present in their Christmas stockings, with the news from the IRS that they get extra time to file their annual returns in 2012.
December 26, 2011
RBC Wealth CEO Taft on Advisor Growth, RegulationJohn Taft heads RBC Wealth Management in the United States and recently stepped down as chairman of SIFMA, the financial-services lobbying group. Based in Minneapolis, he has worked in the industry since 1981 and recently spoke with Research about challenges confronting both the industry and the firm he leads.
December 23, 2011
Another Judge Challenges SEC SettlementMilwaukee Judge Randas objections are reminiscent of Judge Rakoffs criticisms of the SECs settlement with Citigroup. Indeed, Randa cited Rakoff in his filing.
December 23, 2011
FINRA Fines Barclays Capital on SubprimesFINRA has fined Barclays Capital $3 million for misrepresenting delinquency data and for inadequate supervision in connection with the issuance of RMBS.
December 22, 2011
Ron Paul’s Wacky but Influential Fed Policy (Salon)Since 1977, the Federal Reserve's dual mandate has been in place, designed to curb both inflation and unemployment. Now, a fast-spreading Republican philosophy aims to change this to a single mandate, removing the curb on unemployment.
December 22, 2011
4 Key Areas SEC Examiners Will Scrutinize in 2012: GiachettiClient privacy, branch supervision and money manager due diligence top Tom Giachetti's compliance list. And make sure your CCO has real power and knowledge.