Tag: SEC

SEC Tightens Adviser Custody Rules

The Securities and Exchange Commission (SEC) has adopted Bernard Madoff-inspired rules that make it more difficult for investment advisers to custody their clients’ assets.

SEC Widens Probe of BofA

The U.S. Securities and Exchange Commission (SEC) said today it is investigating Bank of America Corp.’s (BofA) failure to disclose Merrill Lynch’s losses to shareholders voting on Merrill’s acquisition.

Court Rejects State Street’s Settlement Do-Over Request

A federal judge in New York has turned away a request by lawyers from State Street Bank & Trust to postpone preliminarily approving an $89.75-million settlement in a fiduciary breach case involving mortgage-related investments by State Street’s bond funds.

SEC Launches Web Site Devoted to Investor Education

The Securities and Exchange Commission (SEC) today launched an investor education Web site that provides investors with in-depth information and "top tips" on how to invest wisely, plan for the future, and avoid being scammed.

Madoff Victims Sue SEC

Two investors are pointing their fingers at the U.S. government for failing to stop Bernard Madoff’s giant Ponzi scheme.

BofA Responds to SEC Charges

Bank of America Corp has formally denied U.S. Securities and Exchange Commission (SEC) claims accusing it of misleading shareholders about bonuses paid to Merrill Lynch & Co employees before the companies' January merger.

SEC Plans Deeper Probe of BofA-Merrill Merger

Federal securities regulators said they will take the opportunity of pre-trial fact-finding in their existing case against the Bank of America (BofA) to see if any additional charges need to be filed.

It’s a No-Go for BofA Settlement with SEC

U.S. District Judge Jed Rakoff rejected a settlement between the Securities and Exchange Commission (SEC) and Bank of America (BofA) over bonuses paid by Merrill Lynch, the Associated Press reported.

SEC Finds More Churchgoing Fraudsters

A couple in Charlotte, North Carolina, allegedly bilked $32.5 million by persuading investors to cash out of their retirement funds and invest in fake investments promising huge returns.

Summary Prospectus Users Still 404(c) Eligible

Plan sponsors got a bit of a roadmap from the U.S. Department of Labor’s Employee Benefits Security Administration (EBSA) about how to rely on a summary prospectus to meet the prospectus delivery component of safe-harbor provisions.