The board took action to improve transparency in the municipal bond market during its three-day meeting.
The ex-Stamford, Conn.-based hedge fund managed by Samuel Israel defrauded investors out of $300 million.
Clients would have to have a net worth of at least $1.5 million for investment advisers to charge them performance fees.
The funds employ long-term capital growth strategies by investing primarily in equity securities of U.S. issuers.
The $12.5 billion allocated to hedge funds during the quarter marked the lowest level of new capital since 2005.
Wilmington Trust reported a second-quarter loss of $19.5 million on impairment charges and a securities loss.
Sen. Carl Levin today called for legislation that would make it easier to tax U.S. citizens who transfer assets to shelters.
Housing starts rose 9.1% to 1,066,000 units in June from May, but down 26.9% from a year ago.
The firm is being investigated as to whether its clients used offshore accounts to hide assets and avoid paying taxes.
JPMorgan Chase & Co. reported that its second-quarter earnings were 53% below last year’s levels.
