Displaying 138 results
Marathon wraps up close on fund backed by Treasury
Marathon Asset Management LP has completed an initial closing of an investment fund established under the Public-Private Investment Program, the Treasury Department announced last week.
Former GunnAllen, Questar broker charged with fraud in Ponzi scheme
The Securities and Exchange Commission last week charged Frank Bluestein with fraud for allegedly being the single-largest salesperson in a $250 million Ponzi scheme that collapsed in August 2007.
Bill would require SEC to restrict mandatory arbitration
The Securities and Exchange Commission would be required to issue rules prohibiting or limiting mandatory-arbitration clauses in securities contracts under draft legislation introduced last week by Senate Banking Committee Chairman Christopher Dodd, D-Conn.
Advisers: SEC, not courts, should set standards for mutual fund fees
Several financial advisers said that they agree with the Supreme Court justices who appeared to suggest during oral arguments last week that the Securities and Exchange Commission, and not the courts, should ultimately decide when mutual fund fees are excessive.
SEC approves disclosures for "dark pools’
New disclosures would be required for alternative trading systems known as “dark pools” under proposals that the Securities and Exchange Commission unanimously approved last week.
SEC exams of advisers get tougher and meaner
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.
Crazy like a fox
Sam E. Antar knows a thing or three about fraud.
Advisers to SEC: Take our money, please
Willing to go to any length to avoid oversight by Finra, financial advisers are reluctantly accepting the idea of paying the SEC to regulate them.
Penson: naked-short video a "hoax’
Officials for Penson Financial Services Inc. said that a video circulating on the Internet of one of its traders engaging in an apparent naked short sale is a fraud that unfairly accuses the firm of violating Securities and Exchange Commission regulations.
Advisers wary of insurance industry’s mortgage-backed-securities proposal
Financial advisers and consumer advocates are skeptical of a proposal from the life insurance industry that could reduce the amount of capital that carriers need to hold against residential-mortgage-backed securities.
Post-Madoff SEC scrambles to put its house in order
Prodded by the failure to detect the Madoff Ponzi scheme, Securities and Exchange Commission officials hope a series of internal reforms will reinvigorate the commission's sorely weakened enforcement efforts and improve protection for investors.
Ratings agencies under fire over residential-mortgage-backed securities
National ratings agencies re-ceived criticism Thursday at a meeting of the insurance industry for their failure to properly…
Parsing the industry’s F word
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.
Advisers at peace with NAIC proposal for more annuity rules
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.
Medical Capital invested in more than just receivables
Medical Capital Holdings Inc., which sold private-placement offerings through a number of independent broker-dealers and has been charged with fraud by the Securities and Exchange Commission, spent freely and lavishly on assets that had nothing to do with medical receivables — its core business — according to court papers filed last week.
SMA assets pick up but still show vulnerability to stock market volatility
Assets in separately managed accounts increased 5% in the second quarter to $467.6 billion — but were down 31.3% from one year earlier, according to data from the Money Management Institute in Washington.
Former executive at Securities America feared a "run on the bank’
A former top executive of Securities America feared “a panicked run on the bank” from clients who invested in private securities of Medical Capital Holdings Inc., which the Securities and Exchange Commission sued last month for fraud.
SIFMA: Surprise audits estimated to cost $200K
A proposal by the Securities and Exchange Commission that would require advisory firms holding custody of client assets to be audited by accountants inspected by the Public Company Accounting Oversight Board would cost each firm an average of $200,000, according to one new estimate.
Ameriprise to pay $17.3M to settle case with SEC
Ameriprise Financial Services Inc. has agreed to pay $17.3 million to settle charges that it received nearly $31 million in undisclosed compensation for selling its brokerage customers real estate investment trusts between 2000 and 2004, according to the Securities and Exchange Commission.
Compensation: SEC mandate called too broad
Financial advisers are troubled by an administration proposal that would allow the Securities and Exchange Commission to ban commissions and take other sweeping actions regarding their fees.
