Almost nine out of 10 consumers would be more likely to read their variable annuity prospectus if they were given a short summary rather than the full document, according to a survey commissioned by the Insured Retirement Institute.
Steven Nothern, a former employee of investment adviser Massachusetts Financial Services, has settled a Securities and Exchange Commission insider trading complaint.
The Securities and Exchange Commission has accused Stephen Kim and his registered investment adviser Spyglass Management of defrauding investors by misleading them about his trading experience and investment strategies, and then using Ponzi-like payments and false documents to mask large losses.
Fidelity Investments is pushing an exemption for block-size trades from a rule proposal that asks institutions trading in dark pools to disclose their transactions in real time.
The Securities and Exchange Commission has given certain investment advisers that use omnibus accounts more time to arrange delivery of client statements in compliance with its recently amended rules on custody arrangements.
The Canadian Securities Administrators has issued exemptions from certain aspects of National Instrument 31-103, which came into force late last year and created a unified registration regime across the country.
CFA Institute has issued a revised set of Global Investment Performance Standards, which are ethical principles that guide investment firms on calculating and reporting their results to potential clients.
Elisse Walter, member of the Securities and Exchange Commission, has warned against holding off on fiduciary duty reform while the SEC conducts a new review of investment adviser and broker/dealer regulation.
Richard Bernstein Capital Management has hired Michael Meyer, a former director of compliance at Citigroup Global Markets, as its first chief compliance officer.
Planned legislative reforms requiring hedge funds to register would create new gaps in regulation even as they close others, according to Andrew Donohue, director of the Securities and Exchange Commission's Division of Investment Management.
The Investment Funds Institute of Canada has raised concerns over the compliance burden of plans to introduce point-of-sale disclosure for the mutual fund industry.