The largest U.S. bank by assets is weighing whether to ban traders from using electronic chat rooms to communicate with peers at other firms as the forums draw scrutiny from global regulators.
The complaint alleges self-dealing, excessive fees in managing the $1 billion plan.
President Barack Obama has threatened to veto a bill that would halt -- or possibly kill -- a Labor Department regulation designed to strengthen investment advice standards for retirement plans. The bill would prohibit the DOL from proposing its regulation until 60 days after the Securities and Exchange Commission has finalized a similar rule to raise standards for brokers providing retail investment advice.
SAC Capital Advisors plans to shut down its London office as the $14 billion hedge-fund firm founded by Steven A. Cohen scales back in the face of insider-trading allegations by U.S. prosecutors
“The proposal would completely foreclose broker-dealers from the retirement-planning and investment-planning businesses — businesses in which broker-dealers have served clients for many decades,” wrote Kevin Carroll, SIFMA's managing director and associate general counsel.
Plus: Bitcoin is back with a vengeance, what's up with consumer discretionary stocks, how about BP and Tesla's surprising earnings miss. From <i>InvestmentNews</i> senior columnist Jeff Benjamin.
Insurance and fund executives recount ideas that exceeded regulatory framework
Claimant's lawyer called it the 'most egregious case of churning' he has ever seen
A Goldman economist uncovers a Fed strategy to push tapering out as far as the eye can see. Meanwhile, don't get fooled by all the Twitter IPO hype but take a look at U.S.-listed Chinese stocks. From <i>InvestmentNews</i> senior columnist Jeff Benjamin.
Plus: Goldman shows its softer side to recruit the Millennial market
After Democrats and Republicans came together for a brief display of bipartisanship to avert a U.S. debt default, financial advisers all but turned their backs on Washington.
State securities regulators cracked down on more investment adviser applications last year after thousands of midsize advisers switched to state oversight from the SEC.
“It's not a game of gotcha,” SEC chairman tells compliance officers.
Many advisers in Massachusetts who moved from SEC oversight to the state last year failed to disclose that they have custody of client assets &mdash; a result of poor understanding of custody rules.
One plan would let value of some money funds float, another would impose redemptions.
Di Florio to set up new unit to ID emerging vulnerabilities for investors and markets.
Wing F. Chau, the bond manager who sued Michael Lewis over his depiction in the 2010 book “The Big Short,” was accused by U.S. regulators of violating his fiduciary duty by accommodating requests from Magnetar Capital LLC in managing financial products linked to subprime mortgages.
Back in 2009, regulators predicted that 4,000 investment advisers would shift from SEC regulation to state oversight. They were slightly off.
Five ex-employees of Bernard Madoff on trial accused of aiding his $17 billion fraud seek to “embarrass” Securities and Exchange Commission witnesses by asking about bungled Madoff audits, prosecutors say.
