Nevin Shapiro, the former owner of Capitol Investments USA Inc., was indicted for allegedly leading an $880 million Ponzi scheme keyed to a bogus wholesale grocery distribution business, the U.S. Justice Department said.
Members of Congress want to quash a tax break that favors fund managers. Guess what fund managers think of the plan?
Advisers in Massachusetts whose personally indentifiable information was accidentally released by a state regulator likely have little recourse, experts say.
The SEC, Finra and four states have charged Morgan Keegan with fraudulently overvaluing several bond funds in 2007. Apparently, that hasn't moved accountant PwC to revisit its audit of the funds
U.S. prosecutors unsealed an indictment formally charging 11 alleged members of a long-term, deep-cover Russian spy ring – one that officials said includes a former financial planner who worked for an advisory and tax firm in New York.
The financial reform bill, which now looks likely to pass the Senate, directs the Securities and Exchange Commission to conduct a long list of detailed studies.
In signing off last Friday on the most sweeping overhaul of financial regulation since the Great Depression, congressional negotiators took a major step toward empowering the SEC to decide whether stockbrokers should be more accountable to individual investors.
House and Senate negotiators agreed to include the stronger House provision on fiduciary duty in the sweeping financial regulatory reform bill. <a href=http://www.investmentnews.com/article/20100625/FREE/100629931><b>(Get the rundown on the full reform, and how advisers and planners will be impacted.)</b></a>
U.S. regulators are poised to restrict investment advisers from giving money to politicians to win pension business in response to abuses in an industry that oversees $2.4 trillion of public retirement funds.
A slate of challengers for three small-firm seats on the Financial Industry Regulatory Authority Inc. board have gathered enough support to seek a spot on the ballot for the upcoming board election.
Finra-backed candidates who represent large and midsize firms are running unopposed so far in the regulator's upcoming board election, but a battle is brewing for three open small-firm seats.
A former SEC attorney who spearheaded the investigation of Pequot Capital Management Inc. — until he was fired in 2005 — says his own continuing efforts drove the Securities and Exchange Commission to pursue the hedge fund and its founder Arthur Samberg for insider trading.
A series of nasty legal fights involving Jesup & Lamont Inc., Penson and Finra may be coming to a head.
The sweeping financial-regulatory reform bill faces an uncertain fate in the Senate following the death early today of Sen. Robert Byrd, D-West Virginia.
The banned broker's responses to questioning, however, often come across as confused.
Bambi Holzer hit with client complaint over selling of risky offerings; broker has appeared on 'Today,' CNN and CNBC
With the sale of private placements facing intense scrutiny from securities regulators, one due diligence attorney has fired off a potent missive to Finra officials about clients' responsibilities when buying the high risk deals.
The Obama administration's stepped up demand for tougher restrictions and new taxes on big banks is complicating Senate efforts to write a bipartisan financial regulation overhaul, even drawing a sharp rebuke from a top presidential ally in the Senate.
Investors filed a class action yesterday against Securities America Inc. — a subsidiary of Ameriprise Financial Inc — and CapWest Securities Inc., alleging that the two firms falsely represented private placement investments and used incoming assets to pay dividends to investors in older investments.
