• Exclusive Online Only Content
• Free Daily Email News Alerts
• Asset Management Blogs

Regulation & Compliance

SEC Doesn't 'Like' Facebook

January 30, 2012 - Will the recent SEC alert chill the use of social media by asset management firms? Or simply put it on ice?

Fund Transfer Instructions Being Faked, FINRA Says

January 27, 2012 - Investors are to guard against a two-step process where “fraudsters” gain access to their email accounts and then instruct the firms involved to transfer money out of their brokerage accounts.

'Offshore Shams' Abet Mutual Fund Speculation in Commodities, Senator Says

January 26, 2012 - The head of the Senate Permanent Subcommittee on Investigations called Thursday for an end to private letter rulings from the Internal Revenue Service which have “essentially opened the floodgates” for mutual funds to speculate in commodities from offshore tax havens such as the Cayman Islands.

Regulators: We Don't Have All the Answers on Volcker Rule

January 19, 2012 - Republican opponents of the plan expressed fears that the measure will restrict liquidity in financial markets and ultimately will hurt economic growth.

SEC Fines UBS $300K for Fund Pricing Violations

January 17, 2012 - The SEC said UBS overstated the value of $22 million in mortgage-backed securities held in three mutual funds.

Planners Prepare for More Audits for HNW Clients

January 16, 2012 - Planners have taken note of the fact that clients with incomes of $1 million or more were twice as likely to be audited by the IRS in 2011 than they were in 2009. Several say they are taking steps in anticipation of still greater vigilance on the part of the agency.

Financial Industry Groups Glad to Help DOL With New Fiduciary Rule

January 16, 2012 - The Financial Services Institute, the Financial Services Roundtable, the Securities Industry and Financial Markets Association and the American Council of Life Insurers are weighing in.

Hill's Focus on Volcker Trading Ban Just Getting Started

January 11, 2012 - Lawmakers have significantly different ideas about how the final rule should be crafted.

Time to Fess Up, SEC Now Says

January 9, 2012 - The Securities and Exchange Commission says it will no longer let companies "neither admit nor deny" charges in settling cases it brings against them.

IRS Increases Audits of High-Income Taxpayers

January 6, 2012 - 12.48% of taxpayers with income of $1 million or higher were subjected to audits in fiscal year 2011, compared to 8.36% in fiscal year 2010.

SEC: Adviser Used Social Media to Tout $500M in Bogus Securities

January 5, 2012 - The Securities and Exchange Commission has charged an Illinois-based investment adviser with using LinkedIn and other social media channels to attempt to sell $500 million in fictitious securities.

TCW, Gundlach Settle Suit

January 3, 2012 - Terms of the settlement between Trust Company of the West and Jeffrey Gundlach’s firm, DoubleLine Capital, were not disclosed.

Credit Suisse Fined $1.75M for Short-Selling System Failures

December 28, 2011 - FINRA has fined Credit Suisse Securities $1.75 million for failing to properly supervise short-selling activity.

SEC Closes 'Net Worth' Loophole for Unregistered Securities

December 26, 2011 - The Securities and Exchange Commission has closed a loophole that previously allowed individuals to artificially inflate net worth before investing in unregistered securities offerings.

MF Global Final Nail in Prop Trading Coffin

December 26, 2011 - The ruins of MF Global prove, if the financial crisis has not already, that agency banking focus on executing client transactions instead of speculating on asset prices - must replace speculative proprietary trading.