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.
SRO Bill May Arrive This Fall
By Melanie WaddellLawmakers and industry officials debated the merits in mid-September of whether there should be a self-regulatory organization (SRO) for advisors, and at least one industry official says to expect SRO legislation from the House this fall.
September 28, 2011
Charles Schwab Bashes Buffett Rule, Obama PoliciesCharles Schwab, founder of the investment company that bears his name, took to the pages of The Wall Street Journal to denounce President Obama's stimulus spending and raising taxes on the rich.
September 28, 2011
FINRA Disciplines Merrill, LPL, National Financial, Van KampenFINRA took disciplinary action against Merrill Lynch, LPL Financial, National Financial Services and Van Kampen Funds. Merrill was censured and fined $400,000 on findings that it failed to enforce its anti-money laundering rules.
September 27, 2011
SEC Charges RBC Capital Markets in CDO MisconductIn the latest crackdown on improper use of CDOs, the SEC on Tuesday charged RBC Capital Markets for misconduct in the sale of unsuitable investments to five Wisconsin school districts
September 26, 2011
A Holiday From HistrionicsMcGraw-Hill, parent to Standard & Poors, announced on Monday that it received a Wells notice from the SEC related to S&Ps rating of a collateralized debt obligation from 2007 (yes, 2007).
September 26, 2011
SEC May Seek Legal Action Against S&PAn issue over the rating of a collateralized debt obligation from 2007 prompted the SEC Thursday to send a so-called Wells notice to McGraw-Hill, the parent company of Standard and Poors.
September 23, 2011
UBS Board Pondering Fate of Banking Giant, CEOThe board of UBS met in Singapore on Friday to consider what will be the future of the Swiss giant after trader Kweku Adoboli allegedly lost $2.3 billion in fraudulent activities. The future of its CEO, Oswald Greubel, also hangs in the balance.
September 23, 2011
Dodd-Frank’s Call for a Federal Insurance RegulatorAre life insurance and annuities in line for federal regulation under Dodd-Frank?