The Labor Department is investigating Geller Group LLC, a retirement plan administrator and registered investment adviser, for failing to disclose alleged ties to an accounting firm it recommended as an auditor and for other possible violations, according to former employees and others close to the investigation.
Under the rule, if an investment adviser or certain employees of an advisory firm contribute to a politician with influence over hiring, they cannot be paid by the pension fund for two years.
Standard of care takes center stage on Capitol Hill amid a flurry of offers, counteroffers, and counter-counteroffers. Right now, House-Senate negotiators appear to be locked in a stalemate.
The Financial Industry Regulatory Authority Inc. is actively investigating broker-dealer underwriters of subprime securities, a Finra official said this morning at the regulator's national conference in Baltimore.
A small provision buried in both the House and Senate versions of financial-reform legislation is being hailed by some as a modest but important step for the financial planning industry.
Credit-default swaps broker Phoenix Partners Group and brokers who worked at four other firms including Tullett Liberty Inc. and Creditex Group Inc. will pay $4.3 million to settle claims that they attempted to fix fees.
Kenneth I. Starr replied “not that much” to an investigator who accused him of stealing $30 million, a prosecutor said in court -- a statement the government said it may try to use against the accused investment adviser.
The uncertain economy is compounding a long-term problem in the brokerage business: its shrinkage.
The government said Friday it obtained a court order to halt an alleged $34 million Ponzi scheme targeting federal employees and law enforcement agents nationwide with promises of safe investments in a nonexistent bond fund.
Frank DiPascali Jr., who pleaded guilty to helping Bernard L. Madoff carry out history's biggest Ponzi scheme, was released on bail.
Federal regulators on Monday filed civil fraud charges against an investment adviser and his firm in connection with complex securities tied to mortgages during the housing market bust.
Group of 20 finance chiefs signaled they will delay introducing new rules aimed at forcing banks to raise the quality and quantity of capital they hold to buffer against financial crisis.
The fate of a universal fiduciary standard for brokers and financial advisers hinges on the outcome of House-Senate negotiations over the most dramatic overhaul of financial regulations since the 1930s.
Two people familiar with the probe into Bernard Madoff's massive financial fraud say at least two former employees will face charges in the coming weeks.
The U.S. Securities and Exchange Commission and the Financial Industry Regulatory Authority were accused of being liable for losses in a Luxembourg fund tied to New York money manager Bernard Madoff.
President Barack Obama plans to announce a new fee Thursday on the country's biggest financial firms to recover up to $120 billion in taxpayers' money used to prop up corporations during the economic crisis, a senior administration official said.
Congress' proposed overhaul of U.S. bank regulation wouldn't have averted the 2008 financial crisis and would do little to prevent a recurrence, according to two former chairmen of the Securities and Exchange Commission.
Getco, a market-making firm that specializes in global high-frequency electronic trading, insists that it followed SEC ethics rules in recruiting and hiring a top SEC official as its associate general counsel.
When House and Senate negotiators gather tomorrow, they're scheduled to consider strengthening the fiduciary duty provision in landmark financial regulatory reform legislation.
House and Senate negotiators last week hit an impasse that may be resolved as early as tomorrow on the fiduciary duty provision embedded in the massive financial regulatory reform bill.
