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SEC says no to Nasdaq request for indiviudal trading algorithms

The U.S. Securities and Exchange Commission rejected Nasdaq’s request to offer clients trading algorithms that would enable them to execute buy and sell orders according to predetermined guidelines. Nasdaq failed to specify in its proposal how it would ensure that orders generated under its plan would comply with rules requiring risk checks on buy and sell […]

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UBS Willow Fund investigation initiated

Last month, a class action lawsuit was filed on behalf of investors in the UBS Willow Fund. Investors are encouraged to explore all of their legal options, including whether they have potential claims against the investment adviser or broker dealer that recomended the  purchase of the fund.  The UBS Willow Fund is a private hedge […]

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Labor Secretary Solis to resign

Onetime Los Angeles-area congresswoman Hilda L. Solis is stepping down as President Obama’s secretary of Labor to return home, a move seen as a potential first step to a bid for the county Board of Supervisors. In a letter Wednesday to Labor Department employees, Solis, 55, said that after spending time with family over the holidays, […]

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FINRA to take closer look at high-speed trading

Richard G. Ketchum, the head of the Financial Industry Regulatory Authority, said in an interview on Tuesday that he would ramp up scrutiny of high-speed trading and a batch of complex products. Finra, Mr. Ketchum said, would take aim at so-called leveraged loans and collateralized loan obligations, along with the potential conflicts that brokerage firms […]

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Boston man charged with securities fraud in Alabama

A Boston man has been arrested and charged with violations of the Alabama securities act. McKinney was charged with one count each of sale of an unregistered security, sale of securities by an unregistered agent and theft of property by deception. He also was charged with two counts of fraud in connection with the sale […]

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