Tag: SEC

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.

SEC Ready to Ward off Next Madoff with New Hire

The U.S. Securities and Exchange Commission (SEC) is set to hire University of Texas professor Henry Hu to oversee risk analysis and seek out market areas where abuses may emerge, according to people familiar with the matter, Bloomberg reported.

FPA Wants to Curb FINRA Authority

The Financial Planning Association (FPA) argues that the Securities and Exchange Commission (SEC), rather than the Financial Industry Regulatory Authority (FINRA), should regulate financial planning activity.

Consulting Firm Offers Mock Audits to RIAs

RIA In A Box, a consulting business that helps set up registered investment advisory (RIA) firms, said it will begin offering mock audit services to RIA firms that want extra preparation for regulatory audits.

SEC Announces Enforcement Initiatives

In a speech before the New York City Bar Association, marking the end of his first 100 days as director of the Securities and Exchange Commission Division of Enforcement, Robert Khuzami formally announced several changes to the Enforcement program.