The following is an edited version of testimony given July 26 by Phyllis C. Borzi, assistant secretary of labor in charge of the Employee Benefits Security Administration, before the House Education and the Workforce Subcommittee on Health, Employment, Labor and Pensions
The National Association of Personal Financial Advisors is worried that its reputation will be tarnished in light of a second high-profile investigation involving one of its former executives
Bank settles allegations that its B-D sold pool of mortgages to clients — then bet against them
One unintended consequence of the long-awaited Volcker rule, which was mandated by Dodd-Frank and finally issued by U.S. regulators last week, may be increased pressure on the retail-wealth-management businesses of wirehouses to contribute more to overall profitability
Occupy Wall Street protesters are lashing out against what they see as a financial industry luxuriating in wealth created at the expense of the middle class. Wall Street, however, has its own grievances against Washington, which were on display last week.
The Supreme Court has refused to revive a bid to sue Bank of America Corp.'s Merrill Lynch unit for allegedly paying 700 black financial advisers less than their white counterparts
Bob Reynolds, chief executive of Putnam Investments, last week called for the establishment of a regulatory body to approve lifetime-income products
Levy would fund jobs bill; given GOP opposition, 5% rate also likely probability of passage
Bank of America Corp.'s Merrill Lynch unit will pay $1 million to resolve claims that supervisory failures enabled a Texas-based representative to operate a Ponzi scheme using a company account.
Economic uncertainty and volatile markets are helping scam artists exploit the fear and greed of unsophisticated and often financially vulnerable investors.
FBI raids home of adviser Mark F. Spangler in probe of alleged fraud; served as president of financial advisers association in 1999
The Treasury's Federal Insurance Office yesterday announced that it's looking for public comments — with a special focus on systemic risk — as part of a report on modernizing insurance regulations.
A California appellate court has ordered Wells Fargo Advisors LLC to pay $915,000 in legal fees to Stifel Nicolaus & Co. Inc. and Stifel broker Chris Nielsen
Rep. Spencer Bachus, an Alabama Republican and chairman of the House Finance Committee, is floating legislation that would establish one or more self regulatory organizations to oversee investment advisers; the fiduciary standard hits a snag; and the SEC takes a look at sub-accounts.
Suddenly, selling away is again a big concern for regulators and law enforcement agencies. In recent months, former reps at several marquee B-Ds have been investigated for allegedly peddling unapproved investments on the side. | <b>Extra </b><a href=http://www.investmentnews.com/apps/pbcs.dll/gallery?Site=CI&Date=20110923&Category=FREE&ArtNo=923009998&Ref=PH>What top RIA execs earn</a>
Finra is continuing to shake up the way broker-dealers show the value of illiquid investments such as non-traded real estate investment trusts and private placements on clients' account statements.
The unfolding drama at Jon Corzine's bankrupt trading outfit could give a serious boost to those who back financial reform, including the establishment of an investment adviser SRO and a universal standard of care.
Removes generators, gasoline cans from OWS site; 'pretext to make the protest less sustainable'
