The Securities and Exchange Commission would gain more authority to make rules governing broker compensation under draft legislation sent by the Department of the Treasury to Capitol Hill Friday.
Financial advisers are overwhelmingly in favor of adopting a fiduciary standard for all advisers, and they also think that the industry should be governed by a single regulatory body.
An investment fiduciary's duty of loyalty demands that the investor's best interests guide the decision-making process.
Amid the economic downturn, 401(k) abuses by plan sponsors are on the rise.
Complain as they do about technology, most financial advisers don't realize how good they have it compared with advisers who work for family offices.
State regulators have an ally in the Obama administration.
The BRIC group — Brazil, Russia, India and China — for a number of years has functioned as a proxy for large developing markets with an attractive long-term return potential.
As the House Financial Services Committee this week begins to hash out plans to make President Obama's proposed consumer financial protection agency a reality, state-regulated investment advisers could find themselves under federal jurisdiction.
A bill to provide low-cost loans to unemployed homeowners with delinquent mortgages was introduced yesterday by Rep. Barney Frank, D.-Mass., chairman of the House Financial Services Committee.
The chairman of the House Financial Services Committee says that Congress will substantially increase the power of government regulators to monitor derivatives, a type of financial instrument that contributed to the U.S. economic turmoil.
Draft legislation that would give the Securities and Exchange Commission the authority to require brokers who give investment advice to act as fiduciaries was sent to Capitol Hill today by the Treasury Department.
A new website hopes to succeed by providing a virtual vault that provides access to vital family documents.
House Financial Services Committee Chairman Barney Frank, D-Mass., has introduced legislation proposed by President Obama to set up a new Consumer Financial Protection Agency.
Morgan Stanley last month suffered a $1 million loss in an arbitration case charging that the firm had “blindsided” a small regional broker-dealer, Strand Atkinson Williams & York Inc., “by a swift and crippling raid” of senior management and top-producing brokers.
Non-profit organizations are embracing target date funds and a majority of 403(b) plan sponsors have begun offering these funds in their plans, a study released today showed.
African Americans and Hispanics are less prepared for retirement than their white and Asian counterparts, according to a survey released today.
The Obama administration sent a 152-page bill to Congress today that would set up a Consumer Financial Protection Agency, a key component of its financial services regulatory reforms.
To lure 401(k) business, Putnam Investments will upgrade its technology and expand its service offering, according to a top executive.
The Supreme Court on Monday ruled that states can apply some of their own laws to big national banks operating within their borders, a decision proponents called a huge win for consumers and for states seeking more power to regulate financial activities.
