The Dodd-Frank regulatory-reform law aims to reduce the SEC's examination responsibilities by shifting some 4,000 investment advisers to state registration, but New York state may gum up the law's intent.
A New York financial adviser pleaded guilty to rigging bids for investments sold to local governments, the fifth person to admit participating in an industrywide conspiracy to profit at taxpayers' expense.
Morgan Stanley, owner of the world's largest brokerage, will pay $800,000 to settle regulatory claims that it didn't disclose research analysts' conflicts of interest to investors.
Just days after the financial-regulatory-reform law was signed, the Securities and Exchange Commission issued a request for public comment on a provision addressing the standard of care for investment advice.
UBS AG, the largest Swiss bank, will seek to reverse a ruling requiring it to pay a U.S. company for business lost when its funds were tied up during the collapse of the auction-rate securities market two years ago.
Federal regulators say it was too good to be true: A Detroit-area woman is accused of collecting more than $1 million from investors who were told they would earn at least 10 percent a month.
At least one group of financial advisers is hoping that the landmark financial-reform legislation will lead to more government oversight of the advice business.
Finra, whose rules-based approach to oversight of brokers is anathema to many financial advisers, could expand its jurisdiction as a result of the new Dodd-Frank Wall Street Reform and Consumer Protection Act
Groups argue the Harkin amendment would undermine the goal of strengthening the standard of care for investors.
It's usually very quiet in Washington in August. But over at the SEC, the late-summer calm has given way to a loud din as lobbyists battle over the standard of care for investors.
Berkshire Hathaway Inc., the company run by billionaire Warren Buffett, may have to set aside $8 billion in collateral for derivatives under proposed changes to U.S. financial regulations, a Barclays Capital analyst said.
In his latest letter to Berkshire Hathaway shareholders, Warren Buffett says directors and officers -- and not shareholders -- should take the hit for reckless investments.
A U.S. District Court judge has denied a bid for class action status by 17 black financial advisers in their five-year-old discrimination suit against the Merrill Lynch unit of Bank of America Corp.
The Financial Industry Regulatory Authority Inc. is proposing a rule that would let the regulator demand more frequent financial reporting from its member firms — and as a first step, it wants more details on revenue and expenses.
Like many aspects of the financial-regulatory-reform legislation that became law July 21, the provision that increases the threshold for state regulation of investment advisers doesn't go into effect for another year.
One likely outcome of the Dodd-Frank financial-reform legislation is that it will rally the TruPS.
Dually registered advisers not utilizing relief, regulator says
The commission's plan to cap the fees is intended to save investors some money. But some advisers predict it will actually drive up costs, as brokers shift to wrap accounts in a bid to preserve revenue
Morgan Stanley, owner of the world's largest brokerage, lost an arbitration ruling that will allow two brokers convicted of securities fraud to each keep $4.45 million in signing bonuses.
