The National Futures Association suspended Christ Investment Service LLC, a San Francisco-based introducing broker, for allegedly illegally acting as a futures commission merchant and as a counterparty to foreign currency transactions, according to the association.
Abolishing the role of mutual fund boards of directors in approving advisory expense ratios would lead to more competition in mutual fund fees, according to a book released in Washington today.
The securities industry is coming to grips with the defeat of the broker-dealer exemption rule.
All eyes are on the Securities and Exchange Commission now that a federal appeals court has overturned its controversial broker-dealer exemption rule.
The U.S. Court of Appeals for the District of Columbia Circuit on Friday overturned the Securities and Exchange Commission’s broker-dealer exemption rule in a 2-1 decision.
A federal judge last week ordered NASD and the New York Stock Exchange to supply an initial batch of documents to a broker-dealer that sued to stop the proposed merger of the organizations’ regulatory units.
IRVINE, Calif. — The Securities and Exchange Commission has proposed that firms beef up their disclosure of cash sweep policies. The proposal, part of a little-noticed package of rules floated by the SEC this month, would require broker-dealers to provide a quarterly notice to customers telling them that they can opt out of a default sweep option and choose another vehicle for their cash.
Regulators are turning the spotlight on companies that specialize in using high-pressure marketing tactics to sell financial products and services to older Americans.
Nobody ever accused companies that push annuities on older Americans of being subtle.
State securities regulators are worried that the recent emphasis on making U.S. capital markets more competitive could lead to the pre-emption of their power by federal regulators.
The Securities and Exchange Commission is getting close to bringing a first-of-its-kind privacy case against a broker-dealer for using client data in the account transfer process, and industry attorneys said that the SEC is investigating similar cases against as many as a dozen other firms.
WASHINGTON — The Department of Labor has put the issue of enhanced 401(k) fee disclosure on its agenda, a move that could take some of the wind out of the sails of a legislative threat.
HUNTINGTON BEACH, Calif. — For asset managers, forecasting whether the Federal Reserve will cut U.S. interest rates for the first time in four years might become a little easier, thanks to a budding derivatives contract.
WASHINGTON — The possibility of limiting pension fund involvement in hedge funds was raised last week by legislators and hedge fund industry representatives at a hearing on Capitol Hill on how much risk hedge funds pose for financial markets.
Opponents of a merger between the regulatory operations of NASD and the New York Stock Exchange haven’t given up on their efforts to stop the deal.
State regulators, led by Massachusetts’ William F. Galvin, are stepping up their attacks on financial scam artists who prey on senior citizens.
Industry observers are worried about the potential effect of an NASD proposal to eliminate the definition of “office of supervisory jurisdiction” and in its place create four new branch-office categories.
Payment for order flow and internalization of retail options orders to affiliated dealers by brokerage firms has become more pervasive, the Securities and Exchange Commission found in a study
The CFA Institute responded with "concern and disappointment" to the mega-insider trading case that was brought to light last week.
Industry lawyers are watching closely how New York’s highest court will settle a long - simmering battle over how much legal protection brokerage firms should have for statements made on so-called U-5 termination forms.
