The Supreme Court today ruled in favor of the mutual fund industry in a case involving responsibility for statements made in prospectuses. A big deal? SIFMA said a decision for the plaintiffis would have caused 'crippling uncertainty' in the securities market.
Modest budget bump likely to be approved today; beyond that, it's a tough sell
The Securities and Exchange Commission will receive adequate funding for 2012, but must reform its operations and rule-making processes before a significantly bigger budget is approved for the agency, Capitol Hill Republicans said.
TCW Group Inc.'s former investment chief Jeffrey Gundlach plotted with colleagues to steal the company's trade secrets before he was fired and started a rival money-management firm, a lawyer for TCW told a jury.
Politics, or more specifically, lobbying, matters; 'they're going to be listening'
Company failed to dislose business relations with companies covered in research notes, regulator says
Plaintiff argued that proxy soliciting member approval for NYSE combo was fraudulent
A former UBS AG client was indicted by a federal grand jury on a charge that he defrauded the U.S. by hiding assets from the U.S. Internal Revenue Service.
Rep. Barney Frank, the leading proponent of universal fiduciary duty for retail investment advice, announced today that he will retire from Congress in 2013.
A Seattle-area pastor has pleaded guilty to charges of wire fraud and money laundering related to a $1.6 million Ponzi scheme he ran for eight years.
Finra has warned investment advisers to examine the effectiveness of their social-media compliance programs based on findings from recent SEC adviser examinations.
The Financial Industry Regulatory Authority Inc. has backed away from a proposal that would have required broker-dealers to file social-media postings with the regulator.
Bank of New York Mellon Corp. was sued on behalf of three funds for negligence in connection with the Ponzi scheme run by convicted fraudster Bernard L. Madoff.
Can a brokerage firm sue Finra? That's a question one broker-dealer is asking the Supreme Court to consider.
Finra conducted nearly twice as many branch exams in 2011 than 2010. Enforcement actions were up, as well. Expect more of the same in the coming year.
Wells Fargo & Co. will pay up to settle criminal charges and civil claims for Wachovia Bank's conspiring to overcharge state and local governments on investments.
A Finra panel has ordered broker-dealer CapWest to pay a whopping $9M to clients for selling them faulty private placements. There's just one catch: the B-D went bust last year and, according to an attorney, has 'zero assets -- there's not even an obsolete telephone book.'
