Finra wants broker-dealers that sell risky Regulation D private placements to engage in a more vigorous due diligence process, “pushing and pulling” for information about the products, according to Richard Ketchum, chairman and chief executive of the Financial Industry Regulatory Authority Inc.
In what can only be viewed as a surprise outcome, an independent broker-dealer has won a rare legal victory in the continuing scrum over private placements that has forced several broker-dealers to shut down
O'Hanley says expense will 'pop up' somewhere else; whack-a-mole for the SEC?
The financial-reform law is threatening the privacy of some of America's richest families.
Federal revenue losses due to tax breaks for retirement savings plans are being greatly exaggerated, according to a group that is urging Congress not to eliminate so-called retirement tax expenditures
Instead of standing on the sidelines waiting for a number of long-awaited Labor Department rules to take effect, advisers are figuring out how things will change and are wasting no time as they gear up
New regulations aimed at ending the cozy relationship between government and those who advise the government on investment matters sound good on first blush. But as firms have discovered, the devil's in the details.
Although Capitol Hill Republicans have received the most attention for trying to halt work on fiduciary duty regulations, Democrats have also expressed skepticism over the issue.
Advocates for imposing a universal fiduciary duty on anyone providing retail investment advice are stepping up their campaign to urge the SEC to move forward with a rule
Commission considering making it easier for investors to get in on Reg D offerings
One of the strongest advocates for imposing a universal fiduciary duty for retail investment advice is urging a congressional committee to allow the Securities and Exchange Commission to move forward with such a rule.
As per a Senate Republican request, SEC Chairman Mary Schapiro says the commission is analyzing the economic impact of adopting a single standard of care. Such cost-benefit analysis could be the way GOP lawmakers gut a universal fiduciary code.
The tax-exemption provided to investors in U.S. state and local government bonds faces a fresh challenge in Congress, where two senators are pushing a bill that would roll back the subsidy.
A federal judge dismissed a suit claiming brokers are investment advisers because they receive marketing fees. But the decision is likely to be appealed. So what's at stake? A reversal in the decision could cost fund companies billions -- and force brokers to dually register.
The trustee liquidating Bernard L. Madoff's defunct investment firm asked a judge to pay him and his law firm $43.2 million for four months' work, bringing total fees sought in the case to $175.5 million since Madoff's arrest.
The Securities Investor Protection Corp. is taking issue with a warning from the SEC's inspector general that the cost of liquidating the Bernie Madoff firm and Lehman Brothers could deplete SIPC's reserve fund. Those cases won't be a problem, SIPC chief executive Stephen Harbeck said today.
Nearly 100 smaller independent broker-dealers sold TICs -- a real estate investment vehicle -- from an Idaho-based distributor that went bust. Now, a bankruptcy court official is putting the bite on those firms.
A group of “several hundred” former customers of con man Bernard Madoff objected to a request for $34.6 million in legal fees by Irving Picard, the trustee overseeing the Madoff bankruptcy, and his law firm.
David Lerner Associates Inc., a brokerage firm known for its founder's “Take a tip from Poppy” advertising slogan, was accused by the Financial Industry Regulatory Authority of overcharging customers on sales of municipal bonds and mortgage securities.
Ad execs' plan to raise investment funds using social media goes flat as commission steps in
