Arguing that Bernard L. Madoff is a “danger to the community,” prosecutors recommended that he be held in jail pending his trial.
President-elect Barack Obama asked Congress to pass his proposed $1 trillion American Recovery and Reinvestment Plan quickly.
Just 10 days before his arrest, Bernard Madoff received $250 million from a financial backer in an apparent bid to prevent the collapse of his firm.
President-elect Barack Obama intends to retain FDIC Chairman Sheila C. Bair in her post, Democratic Party officials told The Wall Street Journal.
The Municipal Securities Rulemaking Board on Friday proposed a partial delay in the launch of its new transparency system for short-term securities after many in the industry said they need more time to implement the system.
Issues that affect the retail segment of the financial services industry may not win immediate attention from Congress and President-elect Barack Obama’s administration.
Staff at the SEC’s Division of Enforcement has informed Reserve Management that it intends to recommend that the SEC bring an enforcement action against the company for violating federal securities laws.
President-elect Barack Obama has nominated Mary Schapiro, the chief executive of the Financial Industry Regulatory Authority Inc. of New York and Washington, as chairwoman of the Securities and Exchange Commission.
Excise taxes imposed on retirement savings account holders who do not take minimum distributions by age 70½ would be suspended for 2009 under legislation unanimously approved last night by the House of Representatives.
Despite intense pressure from regulators to tighten recruiting standards for brokers with marks on their records, these bad apples are still being hired by new firms, recent cases illustrate.
America’s top financial watchdogs need to make haste in addressing transparency challenges posed by complex securities products, NYSE Reg chief executive Richard Ketchum emphasized Tuesday in a speech at Hofstra University.
