The Commodity Futures Trading Commission has charged CapitalStreet Financial LLC, a foreign exchange trading firm in Denver, N.C., with operating a Ponzi scheme in which at least 69 customers were allegedly bilked out of an estimated $1.3 million.
Advisers are wary of President Obama's financial-regulation plans despite his warning today against a return “to the days of reckless behavior and unchecked excess.”
With tax reform high on the administration's agenda for next year, the life insurance industry is pushing for preferential treatment for annuities.
Sen. Charles Schumer's plan to allow the Securities and Exchange Commission to keep the fines it levies is drawing fire for creating a possible conflict of interest for the agency.
The New York State Insurance Department is proposing a rule requiring more transparency about how the sellers of insurance products are compensated.
Tighter regulation on investment banks will force firms to cut salaries, eliminate staff and reduce capital commitments to the business, according to research from JPMorgan Chase & Co.
The Financial Industry Regulatory Authority Inc. last week barred two brokers in separate actions, charging that they ran Ponzi schemes that victimized dozens of investors, including the elderly or mentally and physically disabled.
Securities and Exchange Commission Chairman Mary L. Schapiro last week issued an open letter to broker-dealer chief executives, warning them to make sure supervisors are vigilant about conflicts of interests as they recruit registered representatives.
So much rides on the meaning of “fiduciary,” a word alien to the vast population and, at least until recently, to a good part of the financial world.
An Alabama bank is suing University of Michigan football coach Rich Rodriguez for defaulting on a real estate loan — but his adviser claims that the coach was the victim of a Ponzi scheme.
President Barack Obama's plan to recast how the government regulates Wall Street could be thrown a curve this fall if Sen. Tim Johnson, a Democrat whose home state is a major hub for credit card companies, takes over the chairmanship of the Senate's banking committee.
Two agencies with oversight of the financial markets are trying to coordinate their regulations to eliminate differences involving similar types of investments and instruments
A bill that would continue to allow investors in Section 529 college savings plans to make two changes each year to their investment allocations appears unlikely to pass the House anytime soon, industry and Washington insiders say.
If only you had read my column a year ago and resigned, as I suggested, you could have been enjoying yourself this summer rather than be dealing with an ever-widening mess.
A federal judge gave final approval to a $75 million settlement between Merrill Lynch and employees who sued the New York-based brokerage house in 2007 to recover losses they sustained from holding Merrill company stock in their retirement plans.
A 77-year-old retired securities attorney and his wife are taking Nuveen Investments Inc., Merrill Lynch & Co. Inc., Citigroup and others to court over $2 million in losses they claim to have suffered from investing in auction rate securities.
The first lawsuit over the sale of allegedly fraudulent notes issued by Medical Capital Holdings Inc. was filed last week, and more look likely to come.
Money market mutual funds would benefit from a federal program to guard against the risk of illiquidity in the markets, analysts yesterday at the first Money Fund Symposium in Providence, R.I.
A federal judge in Chicago last week threw out a $1 billion lawsuit that accused AIG of committing fraud against insurance carriers in a workers' compensation pool.
Although members of the insurance industry and some broker-dealer executives are butting heads with state regulators on tougher annuity regulation, financial advisers cheered the proposed use of Finra-esque suitability layers for all annuity sales.
