The Securities and Exchange Commission is conducting a “comprehensive review” of the way proxy ballots are voted in the election of corporate directors and how proxy information is communicated to shareholders, SEC Chairman Mary Schapiro said this morning in New York at the Practising Law Institute's 41st annual Institute on Securities Regulation.
The House Financial Services Committee voted Wednesday to give federal regulators more power and money to police major players in the stock market, four months after Bernard Madoff was sentenced for the biggest investment scam in history.
The financial advisory industry and their clients still may be struggling with the aftermath of the market crash — but investor plaintiff's attorneys are doing just fine, thank you.
State regulators are up in arms about a provision in the proposed Investor Protection Act which would eliminate a requirement that an independent consultant hired by the Securities and Exchange Commission look into the failures at self-regulatory organizations.
The financial services industry has spent most of this year anticipating regulatory changes in response to the recent global economic crisis.
The Securities and Exchange Commission would be instructed to study whether pre-sale disclosures should be required for all products sold to retail investors under a provision of financial services regulatory-reform legislation likely to be approved this week by the House Financial Services Committee.
Some 4,200 advisory firms can expect more oversight and higher costs under legislation that would remove them from SEC oversight and place them under state regulation.
President Barack Obama on Tuesday endorsed a bill in the U.S. House of Representatives that would give the government unprecedented power to seize bank holding companies teetering on the brink of collapse and stick their competitors with the cost.
The House Financial Services Committee today unanimously approved a measure that would move oversight of investment advisory firms with less than $100 million in assets to state securities regulators.
State regulators are objecting to proposed amendments to the Investor Protection Act that would eliminate a requirement to look into the failures at self-regulatory organizations.
A jury will return Tuesday to further deliberate the fate of a Minnesota businessman accused of operating a Ponzi scheme that cost investors more than $3.5 billion.
If the SEC has its way, more disciplinary information about brokers will be available to investors.
The SEC may be examining fewer investment advisers than ever, but when it does pay a visit, even routine exams are more demanding, according to lawyers, consultants, advisers and the agency itself.
Members of the insurance industry are applauding an amendment to the Consumer Financial Protection Agency Act of 2009 that eliminates a section that would have given the agency oversight of some insurance products.
Richard Ketchum, the chairman and chief executive of the Financial Industry Regulatory Authority Inc., told a gathering of brokerage firm executives that his group will be more aggressive about investigating the advisory activities of their brokers — regardless of whether it <a href= http://www.investmentnews.com/apps/pbcs.dll/article?AID=/20090517/REG/305179968&ht=SRO>gets full regulatory authority </a> to oversee investment advisers.
Patricia Cornwell, the author of several best-selling crime novels, is going after her financial advisers in an attempt to recover $40 million she has lost, according to multiple published reports.
The House Financial Services Committee voted Thursday to create a federal agency devoted to protecting U.S. consumers from predatory lending, abusive overdraft fees and unfair rate hikes.
A member of the House Financial Services Committee next week plans to propose an amendment to financial service legislation that would require that a study be done on the regulation and oversight of financial planning.
Matthew Weitzman, a former principal of AFW Asset Management Inc., was sentenced to 97 months in prison after he pleaded guilty last year to stealing from the firm's clients.
Fears abound about the potential for change in the regulatory and compliance arena.
