Compliance

A California CPA firm will have to pay $5,000 in restitution to an employee stock ownership plan (ESOP), to resolve a lawsuit alleging that the CPA firm knowingly...

The New York Stock Exchange has fined Morgan Stanley $300,000 for its failure to stop a trader from entering an order to buy $10.8 billion in stocks –...

The National Association of Securities Dealers (NASD) has fined four Fidelity broker-dealers a combined $3.75 million for faltering on some of their recordkeeping responsibilities for clients and ordered...

In its first Field Accounting Bulletin (FAB) of 2007, the U.S. Department of Labor’s (DoL) Employee Benefits Security Administration (EBSA) offered guidance pertaining to the investment advice and...

U.S. Senators may have overwhelmingly approved a bill that includes a provision limiting non-qualified deferred compensation programs (NQDC), but the NQDC provision may still be changed in a...

Transactions between an investment management firm and investment funds managed by a qualified professional asset manager (QPAM) as an option under a retirement plan satisfy a Prohibited Transaction...

Fund manager Fred Alger Management Inc., has agreed to a $45 million settlement of charges it engaged in a “massive″ market timing scheme that benefited favored investors.

The U.S. Senate Finance Committee on Wednesday approved by voice vote a measure that could limit the earnings corporate executives can defer into non-qualified deferred compensation (NQDC) plans.

The New York Stock Exchange appears to be investigating three advisers, known as the CBS Group, who were involved in market timing five years ago, fining their supervisors...

A Florida pension plan has sued ING Group in federal court claiming that the financial services firm charged the plan higher fees to cover revenue-sharing payments.

Regulators on Wednesday released guidance on how to properly implement new Pension Protection Act (PPA) rules governing a variety of qualified plan distributions.

The former chief of Putnam Investments, Lawrence Lasser, has agreed to a $75,000 settlement with the Securities and Exchange Commission (SEC), putting an end to allegations that the...

Connecticut Attorney General Richard Blumenthal this week announced that The St. Paul Travelers Companies, Inc. plans to stop paying contingent commissions to insurance agents and brokers by the...

Massachusetts Secretary of State William Galvin is looking into whether hedge funds have increased their trading fees to compensate banks for office space they lease as a temporary...

The St. Louis-based law firm of Schlichter Bogard&Denton has filed another 401(k) fee lawsuit.

Securities fraud class actions decreased by 38% in 2006, falling from 178 filings in 2005 to just 110 in 2006 - the lowest ever recorded in a calendar...

On the last day of 2006, two more financial services firms announced settlements with regulators about their insurance business practices.

The US Attorney for the Western District of Tennessee has announced James Michael Foley, former Vice President of Sales for UnumProvident Corporation, pled guilty on Friday to fraud...

Federal regulators have turned to the public for comment on how to formulate guidance on “phased retirement″ in-service plan distributions as provided for by the Pension Protection Act...

You may think things are crazy this time of year in your office – and they may well seem that way. Advisers are human, after all, and advisory...