Advisor News

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SEC budget increase? Only with agency reforms, House Republicans say
REGULATION AND LEGISLATION JAN 25, 2012
SEC budget increase? Only with agency reforms, House Republicans say

The Securities and Exchange Commission will receive adequate funding for 2012, but must reform its operations and rule-making processes before a significantly bigger budget is approved for the agency, Capitol Hill Republicans said.

By Mark Schoeff Jr.
TCW accuses Gundlach of secret plot to steal 'entire business'
REGULATION AND LEGISLATION JAN 25, 2012
TCW accuses Gundlach of secret plot to steal 'entire business'

TCW Group Inc.'s former investment chief Jeffrey Gundlach plotted with colleagues to steal the company's trade secrets before he was fired and started a rival money-management firm, a lawyer for TCW told a jury.

By Mark Bruno
Munch on this: 'The Scream' could fetch $80M
RETIREMENT PLANNING JAN 24, 2012
Munch on this: 'The Scream' could fetch $80M

Masterpiece to go on sale this May; three other versions all in museums

By Scott Reyburn
Romney's tax revelation draws plenty of fire
RIA NEWS JAN 24, 2012
Romney's tax revelation draws plenty of fire

Ex-govenor's 15% effective rate criticized by opponents; Gingrich paid twice that

By John Goff
Wirehouse market share thinning
WIREHOUSES JAN 23, 2012
Wirehouse market share thinning

Researcher says slice could dip to 35% by 2013, down from 50% in 2007; some self-pruning

By Andrew Osterland
REGULATION AND LEGISLATION JAN 22, 2012
INsider: Advisers ignore Washington at their peril

Politics, or more specifically, lobbying, matters; 'they're going to be listening'

By Bloomberg
RIA NEWS JAN 22, 2012
Massachusetts lays out social media do's, don'ts

By Liz Skinner
Citi settles with Finra over alleged conflicts at its brokerage
REGULATION AND LEGISLATION JAN 20, 2012
Citi settles with Finra over alleged conflicts at its brokerage

Company failed to dislose business relations with companies covered in research notes, regulator says

By John Goff
Supreme Court smacks down B-D's suit against Finra
REGULATION AND LEGISLATION JAN 20, 2012
Supreme Court smacks down B-D's suit against Finra

Plaintiff argued that proxy soliciting member approval for NYSE combo was fraudulent

By Dan Jamieson
RETIREMENT PLANNING JAN 20, 2012
Buzz: Sandy Weill sells his NYC apartment for jaw-dropping sum

Central Park West penthouse listed at nearly $90M; Russian billionaire seen as buyer

By John Goff
INsider: At current rates, money fund investors will double their money — in 2,000 years
RETIREMENT PLANNING JAN 20, 2012
INsider: At current rates, money fund investors will double their money — in 2,000 years

The question: Are such puny yields worth it when money isn't FDIC-insured?

By Bloomberg
Schwab unveils 401(k) product boasting index funds
RETIREMENT PLANNING JAN 19, 2012
Schwab unveils 401(k) product boasting index funds

In a much-anticipated move, Charles Schwab late on Tuesday said it is launching a 401(k) product that features index funds. An ETF-version of the low-cost offering, dubbed Index Advantage, is due next year.

By Dan Jamieson
IRS audits of millionaires at all-time high of 12.5%
RIA NEWS JAN 19, 2012
IRS audits of millionaires at all-time high of 12.5%

The U.S. Internal Revenue Service said it audited 12.48% of individual tax returns with income exceeding $1 million during 2011, an all-time high.

By Doug Cubberley
REGULATION AND LEGISLATION JAN 19, 2012
Ex-UBS client indicted for hiding accounts from IRS

A former UBS AG client was indicted by a federal grand jury on a charge that he defrauded the U.S. by hiding assets from the U.S. Internal Revenue Service.

By Doug Cubberley
REGULATION AND LEGISLATION JAN 19, 2012
Frank's final act - stop GOP efforts to raze huge finance bill

By Mark Schoeff Jr.
Frank elects to retire from Congress in 2013
REGULATION AND LEGISLATION JAN 19, 2012
Frank elects to retire from Congress in 2013

Rep. Barney Frank, the leading proponent of universal fiduciary duty for retail investment advice, announced today that he will retire from Congress in 2013.

By Mark Schoeff Jr.
Students' council: Go to college now, pay for it later
RETIREMENT PLANNING JAN 18, 2012
Students' council: Go to college now, pay for it later

University of California undergrads propose 20-year tuition plan; five percent solution?

By Bloomberg
California Dems eye college fees that are up 145% since 2004
RETIREMENT PLANNING JAN 18, 2012
California Dems eye college fees that are up 145% since 2004

Look to end tax loophole for businesses, use proceeds to provide more financial aid to students

By John Goff
Student loans the 'next debt bomb' for U.S., attorneys warn
RETIREMENT PLANNING JAN 18, 2012
Student loans the 'next debt bomb' for U.S., attorneys warn

Courts reluctant to discharge loans, often forcing graduates to pay off enormous sums; parents increasingly on the hook, too

By Bloomberg
Ivy League school rolls out largest tuition hike in six years
RETIREMENT PLANNING JAN 18, 2012
Ivy League school rolls out largest tuition hike in six years

CPI up 3 percent, but Princeton raises prices by nearly 5 percent

By John Goff