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.
Congressional committee approval late last week of an amendment to the financial-reform bill maintaining state regulation of equity-indexed annuities drew mixed reaction, with insurers cheering the action and advisers largely opposing it.
An insurance group lauds a proposal requiring the SEC to merely examine a single standard of care. And what will come of the study? Not much, says a consumer advocate.
BP Plc was sued by an ex-employee over losses to the company's retirement plan caused by the Gulf of Mexico oil rig explosion and subsequent spill.
The proposal clarifies that the funds are insurance products that should be overseen by states rather than securities that should be regulated by the Securities and Exchange Commission.
Mr. Harkin's amendment would clarify that these funds are insurance products that should be overseen by states rather than the Securities and Exchange Commission.
A New Jersey woman was charged with directing a $45 million real estate Ponzi scheme that allegedly defrauded more than 20 investors in New York and New Jersey.
The U.S. Securities and Exchange Commission sued two Canadian men, accusing them of running a $300 million Ponzi scheme that promised returns of as much as 36 percent on investments in gold-mining companies.
The Geller Group LLC, a New York retirement plan administrator and registered investment adviser, has confirmed in internal memoranda that it is being investigated by the Labor Department.
