Highlighting investor concern about the market effects of short selling, more than 3,000 comments have been filed with the Securities and Exchange Commission on proposed changes to the short-sale rule.
Even though independence is losing its stigma as a sign of failure among wirehouse brokers, they continue to move at only a moderate pace to independent broker-dealers and registered investment advisory firms, a panel of experts said last week.
Broker defections, a loss of market share and spinoffs could be on the horizon for insurance-affiliated broker-dealers if the Obama administration's proposed regulatory reforms force them to act as fiduciaries.
The Stanford and Madoff fraud cases have put the brokerage industry's disclosure system under the spotlight.
Complain as they do about technology, financial advisers don't realize how good they have it compared with managers of family offices.
At the beginning of the year, after it missed cues for seemingly everything from the massive Madoff Ponzi scheme to the credit crisis, the Securities and Exchange Commission was being written off as all but dead.
Former American International Group Inc. Chairman Martin Sullivan misled Congress last year when he told lawmakers AIG’s financial problems were caused by fair-value accounting standards, the chairman of the Financial Accounting Standards Board said today.
The United Kingdom’s Financial Services Authority, in an effort to restore “trust and confidence in the retail-investment market,” has outlined a proposal to ban commission payments by investment management firms.
After banks make an offer, Treasury will decide whether to make a counteroffer, subject to a private appraisal if the two sides cannot agree on a fair price.
Antigua's former chief financial regulator surrendered Thursday to face U.S. charges that he aided an alleged $7 billion swindle by Texas billionaire R. Allen Stanford, government officials said.
The Investment Company Institute blistered a House bill under consideration that would require detailed 401(k) plan fee disclosures and require plan administrators to offer a least one low-cost index fund to plan participants.
The Texas Department of Insurance yesterday said that it will try to implement provisions of legislation vetoed last week by Gov. Rick Perry that was designed to protect annuity customers.
Four Germans, aged 61 to 80, abducted financial adviser, held him hostage in a basement; reportedly upset after losing $3.6M in real estate deals
Life insurers and banks bashed the administration’s proposal for a Consumer Financial Protection Agency today at a House Financial Services Committee hearing.
An influential House committee today approved a comprehensive package of retirement legislation that includes a provision that would permit only independent financial advisers to counsel 401(k) participants on their investment decisions.
The Securities and Exchange Commission today voted unanimously to propose rule changes for the $3.8 trillion money market mutual fund industry — including new liquidity requirements to prevent runs on such funds.
The Life Insurance Settlement Association today applauded new legislation in Maine which requires that insurance customers be apprised of their rights to sell their policies on the secondary market.
The 71-year-old Madoff faces up to 150 years in prison after pleading guilty on March 12 to 11 felony counts including securities fraud and perjury.
Drug companies have pledged to spend $80 billion over the next decade to help reduce the cost of drugs for seniors and pay for a portion of Obama's health care legislation.
