Among other things, GAO charged with examining professional standards that currently govern planners and advisers
The Senate financial-reform bill introduced by Sen. Christopher Dodd, D-Conn., tackled a lot of difficult issues, made some tough decisions and punted on a relatively easy one — requiring financial professionals who give investment advice to accept fiduciary responsibility.
Tearful, angry victims of a $77 million Ponzi scheme that targeted hundreds of often working-class Italian-Americans crowded into a Chicago courtroom Thursday to tell their stories before a judge handed the convicted swindler a maximum 23-year prison term.
Last month, the Financial Industry Regulatory Authority Inc. shut down APS Financial Corp. for overcharging clients $1.3 million for bond trades in 2005 and 2006.
The securities industry hopes that the Supreme Court will reverse a lower-court decision that it fears could put all mutual fund companies and financial advisers who sell their funds at a greater risk of being targets of class actions, observers say.
P2P lending gaining in popularity, but state securities cops warn about potential perils
Insurers, fund companies and advisers who serve small investors are likely to be big winners if the Automatic IRA Act of 2010 becomes law.
A Florida investor is suing TD Ameritrade Inc. for allegedly allowing a financial adviser to steal more than $2.3 million from her brokerage accounts.
President Barack Obama signed legislation that will cut taxes and provide credit help for small businesses, calling it an essential step for job growth in a slow economy.
Capitol Investment's Shapiro solicited clients for bogus grocery distribution company; nearly $1B Ponzi scheme
Bank of America Corp. settled a lawsuit filed by a broker who claimed the bank's Merrill Lynch & Co. unit discriminates against women through its partnership model.
A dually registered investment adviser and broker defended his investment strategy after being charged today by the Securities and Exchange Commission with switching clients in and out of related funds without telling them the changes would boost his commission.
Delaying until 2011 might save money, consternation; blueprint for transition not exactly 'etched in stone'
Namvar accused of stealing $23M from clients to pay off other investors; bigwig in Persian Jewish community
Finra's directive requiring firms to ramp-up their disclosure about broker terminations could trigger defamation suits, lawyers say. And it may not be so good for the brokers, either.
A New Jersey financial adviser who admitted stealing more than $1 million from eight elderly clients has been sentenced to 68 months in federal prison.
Flash crash exposed vulnerabilities in U.S. stock trading system, SEC's chairman says
In trying to clarify who can give advice to 401(k) plan participants and under what circumstances, the Department of Labor appears to have antagonized just about everybody.
The Dodd-Frank financial-reform law has created the potential for great uncertainty in the investment advisory and financial planning business.
Finra arbitrators have ordered a securities analyst who claims he was wrongfully fired by Rodman & Renshaw LLC in 2006 for attempting to lower a stock rating to pay the broker-dealer $10.7 million in damages.
