A broad coalition of accounting, financial planning and consumer groups are hoping that the new Congress will take up a long-sought-after ban on the practice of patenting tax strategies
Next Financial Group Inc. was hit last month with its third significant regulatory action in three years when Finra socked it with a $400,000 fine and $102,000 in restitution to clients.
Morningstar Inc. may consider reviewing the way it displays information to financial advisers and their clients about returns on variable annuity subaccounts.
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Leaders of a presidential deficit commission recommend the elimination of all tax breaks for retirement, life insurance and employer-sponsored health care plans in their final report, which was released Wednesday and will be voted on by the full panel Friday morning.
A New York man received five years' probation for defrauding his customers of more than $66 million they thought was invested in the foreign-exchange market and instead was spent on art and an Aston Martin car.
The House of Representatives approved on Thursday a bill that would permanently extend Bush administration tax cuts for the middle class but allow rates for wealthier taxpayers to increase.
Morningstar Inc. may consider reviewing the way it displays information to advisers and their clients about returns on variable annuity subaccounts.
The global financial markets are still trying to regain some stable footing following the $116 billion bailout of some of Ireland's largest banks.
Congress won't act directly on a proposal approved by a presidential deficit commission this week, but elements of the plan could become part of legislative proposals in coming months to address huge fiscal imbalances.
Morningstar Inc. is reviewing discrepancies in the way it reports returns on variable annuity subaccounts to advisers and their clients.
Obervers say the advisory industry is spooked by the probes of Diamondback Capital and Level Global Investors. But the bigger concern may be the subpoena of Wellington Management, which is a subadviser to marquee firms like Vanguard, The Hartford, and John Hancock.
If you're curious about how important workplace diversity is to Wall Street, consider the commotion that ensues when it's time to roll out the red carpet and honor the industry's inclusion luminaries.
Preferential tax treatment for retirement programs and insurance products are threatened in a draft proposal from the chairmen of the national deficit commission, according to advocates.
Representatives and advisers at Brewer Financial, a Chicago-based independent broker-dealer, are said to be looking to jump ship after the Securities and Exchange Commission charged the firm and its top two executives with fraud in selling $5.6 million in promissory notes to 74 investors.
Advocates of a universal fiduciary standard of care for all advisers and brokers are hoping that the recent insider trading probe will help their cause.
Investment guru sees another recession within two to three years; 'not much that can be done'
In our industry, there is never a shortage of debate on the areas that affect the sale and delivery of financial advice to investors
