Former employees of Morgan Stanley and Janney Montgomery Scott LLC were indicted on kickbacks and fraud charges.
A Florida pension fund yesterday filed suit against AIG and four executives of making misleading statements about the company’s finances.
The Securities and Exchange Commission is investigating Franklin Bank after an internal probe revealed accounting errors tied to residential real estate loans.
When they started their partnership in 1990 at Morgan Stanley, brokers Gerald P. Kessler and Paul S. Baker probably never imagined that the dissolution of their book of business — $470 million in assets, producing an estimated $3 million a year in fees and commissions — would hinge on a coin toss.
The U.S. subprime meltdown will result in more-stringent banking regulations, according to former Sen. Paul Sarbanes.
The Energy and Tax Extenders Act may be taken up next week by the House of Representatives.
John Carl of AllianceBernstein won $10 million in damages against the firm and $2 million in punitive damages.
A spate of class actions involving auction rate securities may be behind an expected rise in securities class actions this year.
Both GunnAllen Financial Inc. and a former top executive are claiming victory after a lengthy arbitration battle that focused on whether the independent broker- dealer had the right to fire David McCoy, its former chief operating officer and national sales director, who was dismissed in 2005.
“It is a far cry from everything we need to do,” but it will help keep homeowners in their homes, Sen. Christopher Dodd said.
Two Senators have introduced bipartisan legislation to protect seniors from “unscrupulous financial advisers.”
A "patchwork of regulators" are "unable or unwilling" to protect the American people, said Sen. Barack Obama.
The bill is expected to pass the House by summer, but will not make it through the Senate, lawyer James Delaplane said.
Mutual Service Corp. faces at least one arbitration claim for allegedly failing to supervise a mortgage broker whose practice collapsed last September under the weight of a nearly $30 million fraud.
For nearly a decade, Jon E. Drucker has been a thorn in the side of Ameriprise Financial Inc.
The Securities and Exchange Commission charged the vice chairman of the International Securities Exchange and two financial consultants with alleged insider trading.
Republicans plan to introduce a bill that would make compliance with some provisions of Sarbanes-Oxley voluntary for banks.
Federal Deposit Insurance Corporation chairperson Sheila Bair said most financial institutions remain well capitalized.
Disciplinary histories would be included in plain English brochures.
Brent Nelson's nightmare experience with state securities regulators began last May when, out of the blue, he received a letter from Ohio's Division of Securities telling him his license had been suspended.
