House Bill Would Fund More SEC Exams
The Financial Planning Coalition welcomed the Investment Adviser Examination and Improvement Act of 2012, while the Bachus self-regulatory organization...
Compliance
FSI to SEC: Fee Hikes Would Shaft ‘Main Street America’
FINRA’s proposed fee hikes for new applications and branch office registrations would force many independent broker/dealers (IDBs) out of business, the Financial Services Institute (FSI) said.
The Hartford Helps Advisers with Disclosures
Practice management seminars and informational materials are among the supports The Hartford rolled out for advisers to explain 401(k)...
A Reminder About Information Sharing Agreements
The Internal Revenue Service (IRS) has made it clear that it will look for information sharing between 403(b) plan sponsors and vendors with 2009 plan audits.
Further Guidance Possible Regarding Brokerage Windows
An official from the Department of Labor (DOL) said further guidance may be issued regarding the treatment of brokerage windows in participant fee disclosures.
Advisers Shouldn’t Have to Support ‘Exorbitant’ FINRA Salaries: NAPFA
The SEC is better suited to oversee independent advisers, the National Association of Personal Financial Advisors argues.
CFTC Approves OTC Derivatives Rules
The Commodity Futures Trading Commission (CFTC) voted to finalize definitions and exemptions as part of the new regulatory regime for over-the-counter (OTC) derivatives.
SEC Takes Another Step in Regulating OTC Derivatives
The Securities and Exchange Commission (SEC) took another step toward regulating over-the-counter (OTC) derivatives by approving rules and interpretations for key definitions of certain derivative products.
EBSA to Hold Fiduciary Workshop in S.C.
The Department of Labor’s Employee Benefits Security Administration (EBSA) announced a workshop in South Carolina for retirement plan fiduciaries.
Employers Hoping for Repeal of Health Reform Law
Six in ten employers surveyed are hoping for full repeal of the Patient Protection and Affordable Care Act...
Majority of Plan Sponsors Ready for Participant Fee Disclosure
The Department of Labor’s (DOL) participant fee disclosure requirements go into effect August 30, and the majority of plan sponsors surveyed are ready.
Charges Written 'in the Stars' for Astrological Ponzi Schemer
Florida broker saw lunar effects on the stock market, but managed to miss the Securities and Exchange Commission (SEC) fraud charges coming his way.
SEC Charges Massachusetts Adviser With Fraud
Gary J. Martel, of Chelsea, Massachusetts, was charged by the Securities and Exchange Commission (SEC) with defrauding investors of $1.6 million. His assets were also frozen.
Key Deadline Approaching Under 409A
The deadline is approaching to amend affected deferred compensation arrangements to comply with Code Section 409A requirements for payments contingent on execution of a release of claims.
California Pension Fiduciary Gets Jail Term for Ponzi Scheme
Thomas Brown Hammond was sentenced Wednesday to four years and nine months in prison for retirement fund theft.