Sara Hansard
Faced with the prospect of gaining jurisdiction over 4,200 registered investment advisory firms, state regulators are scrambling to make sure they have the resources to handle a handoff.
State securities regulators are gaining ground in their battle to regain authority to oversee private-placement offerings.
Sen. Tim Johnson, D-S.D., is circulating legislative language that would delete a requirement that brokers acting as advisers be registered investment advisers.
Senate Banking Committee Chairman Christopher Dodd, D-Conn., said today he will work with Sen. Bob Corker, R-Tenn., a member of the Banking Committee, to write a new draft of the financial-services reform legislation the committee has been considering.
Money market funds will have to disclose on a delayed basis their fluctuating “shadow” net asset values rather than their $1-per-share value, thanks to a rule that the SEC adopted last week.
A proposal that would require brokers providing advice to be regulated as RIAs may be dropped from financial reform legislation, according to consumer groups and state securities regulators.
The Securities and Exchange Commission will appeal a federal district court decision dismissing its insider trading case against Mark Cuban, owner of the Dallas Mavericks basketball team.
The Managed Funds Association has formed an alliance with the Connecticut Hedge Fund Association as part of its efforts to unite with regional hedge fund associations.
The requirement that brokers who provide advice be regulated as registered investment advisers may be dropped from financial-reform legislation being considered by the Senate Banking Committee, according to consumer groups and state securities regulators.
Worried about losing some of the $3 trillion in assets they oversee, defined-contribution-plan administrators have forged a coalition…
