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.
Morgan Keegan to Pay $200 Million Over Bond Fund Allegations
By Marlene Y. SatterMorgan Keegan & Company will pay $200 million to settle allegations of exaggerated claims, failures in supervision and undisclosed investment risks, the Financial Industry Regulatory Authority announced Wednesday.
June 22, 2011
SEC Approves New 'Switch' Rules for AdvisorsUnder rules approved at an SEC open meeting on Wednesday, some 3,200 advisors will find themselves "switched" to state, rather than SEC, regulation because of a change in the way they are classified as mandated by the Dodd-Frank Act.
June 22, 2011
J.P. Morgan Settles SEC Charges on CDOs; Will Pay $153 MillionSEC's Robert Khuzami said that J.P. Morgan failed to tell investors "that a prominent hedge fund that would financially profit from the failure of CDO portfolio assets heavily influenced the CDO portfolio selection."
June 21, 2011
SEC: Insurers to Get CDO Deal CompensationJ.P. Morgan Securities has agreed to pay about $154 million into a settlement fund to resolve a U.S. Securities and Exchange Commission investigation involving CDOs that were sold to life insurers and other institutional investors.
June 21, 2011
SEC: Insurers to Get CDO Deal CompensationJ.P. Morgan Securities has agreed to pay about $154 million into a settlement fund to resolve a U.S. Securities and Exchange Commission investigation involving CDOs that were sold to life insurers and other institutional investors.
June 20, 2011
FINRA to Share Details on New Back-Office Staff RulesThe SEC approved the rules that require registration, testing and continuing education of some operations staff and supervisors on June 16.
June 20, 2011
3 Lessons From Advisor’s FINRA Win Over BofA-MerrillFINRA ordered BofA-Merrill Lynch to pay one of its former advisors about $1.5 million in damages and change his Form U5 last week, and Patrick Burns, a lawyer, shares what that decision means for advisors.
June 20, 2011
Three Lesson from FA’s $1.5 Mil FINRA Win Over MerrillFINRA ordered Bank of America-Merrill Lynch to pay one of its former financial advisors about $1.5 million in compensatory damages and change…