The SEC and the CFTC today proposed requiring advisers who recommend commodities to adhere to a fiduciary standard as part of a 20-point plan to improve regulation.
Contribution limits for 401(k) plans will remain unchanged next year, the Internal Revenue Service announced today.
If money market funds experience another run similar to the one that happened in September 2008, the money fund industry is unlikely to survive in its current form, according to an SEC official who has done extensive work on money fund regulation.
Willing to go to any length to avoid oversight by Finra, financial advisers are reluctantly accepting the idea of paying the SEC to regulate them.
A proposal put forward by the Obama administration and Rep. Paul Kanjorski, D-Pa., chairman of the House Financial Services Subcommittee on Capital Markets, Insurance and Government Sponsored Enterprises, would weaken the Investment Advisers Act of 1940, according to the head of a group that represents federally registered advisers.
But the Financial Services Institute Inc. isn't suggesting it should be Finra just yet
The average 401(k) participant lost nearly one-third of their retirement account assets last year because of the market downturn, according to a report released this morning by the Investment Company Institute and the Employee Benefit Research Institute.
The head of the Financial Industry Regulatory Authority Inc. today threw the group's support behind allowing the Securities and Exchange Commission to ban mandatory arbitration clauses in securities contracts.
Legislation moving through Congress that would sharply limit what kinds of advisers can counsel 401(k) participants should not be passed, Rep. Earl Pomeroy, D-N.D., said today.
The Investment Adviser Association supports the Obama's administration's efforts to ban mandatory arbitration clauses in securities contracts.
