Advisor News

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REGULATION AND LEGISLATION DEC 06, 2011
Tax code overhaul unlikely this year

Like baseball fans whose team came up short, those hoping for an overhaul of the tax code by the congressional deficit-cutting supercommittee likely will have to wait until next year

By Mark Schoeff Jr.
Debate subtly shifting from whether to raise taxes — to how much
RIA NEWS DEC 06, 2011
Debate subtly shifting from whether to raise taxes — to how much

Republican lawmakers coming over to the idea that Uncle Sam must raise more revenue to make real impact on deficit; Grover Norquist not thrilled

By John Goff
MF Global's 1,066 brokers fired by trustee
REGULATION AND LEGISLATION DEC 06, 2011
MF Global's 1,066 brokers fired by trustee

200 former employees will be hired to help with liquidation of bankrupt B-D; 'saddened'

By John Goff
INsider: Finra embarrassment will be long forgotten before Congress acts on SRO bill
REGULATION AND LEGISLATION DEC 06, 2011
INsider: Finra embarrassment will be long forgotten before Congress acts on SRO bill

Settlement with SEC a distant memory by the time investment adviser oversight issue is settled

By Bloomberg
RETIREMENT PLANNING DEC 06, 2011
Skimpier living benefits could kill interest in VAs, advisers warn

Financial advisers are calling on insurers to enhance their suite of variable annuities, saying that clients are turned off by falling accrual rates on living benefits and insufficient investment choices

By Darla Mercado
REGULATION AND LEGISLATION DEC 05, 2011
'Enforcement wave' coming

The recent fining of three advisory firms by the SEC is only the tip of the iceboard, according to an ex-Commission official. How tough will the crackdown be? Says the lawyer: 'The world is about to change for investment advisers.'

By Mark Schoeff Jr.
RIA NEWS DEC 05, 2011
Democrats eye 3.25% millionaire surtax

U.S. Senate Democrats are proposing to use a 3.25 percent surtax on income over $1 million to pay for extending and expanding a payroll tax cut, setting up a test vote as early as this week.

By Doug Cubberley
Revamped fiduciary rule also may bring revenue-sharing changes
REGULATION AND LEGISLATION DEC 05, 2011
Revamped fiduciary rule also may bring revenue-sharing changes

DOL's Borzi says agency looking at third-party payments; not backing off fiduciary update, either

By Mark Schoeff Jr.
REGULATION AND LEGISLATION DEC 05, 2011
DOL: IRA advice will be included in new proposal

A fervent outcry from a wide range of financial industry groups and bipartisan lawmakers helped persuade the Labor Department to withdraw a proposed rule to expand the definition of “fiduciary” for advisers to retirement plans

By Mark Schoeff Jr.
Borzi vows to keep IRAs in Labor's revamped fiduciary proposal
RETIREMENT PLANNING DEC 05, 2011
Borzi vows to keep IRAs in Labor's revamped fiduciary proposal

A fervent outcry from a wide range of financial industry groups and bipartisan lawmakers helped persuade the Labor Department to withdraw a proposed rule that would expand the definition of fiduciary for advisers to retirement plans.

By Mark Schoeff Jr.
ADV crackdown on, as SEC says firm claimed $200M in AUM, had $3M
REGULATION AND LEGISLATION DEC 04, 2011
ADV crackdown on, as SEC says firm claimed $200M in AUM, had $3M

Commission on a mission, goes after Chicago firm for allegedly 'grossly exaggerating' assets under management

By Liz Skinner
PRACTICE MANAGEMENT DEC 04, 2011
Finra outsider elected to seat on appeals board

By Dan Jamieson
REGULATION AND LEGISLATION DEC 04, 2011
States announce reviews for midsize advisers

By Dan Jamieson
RIA NEWS DEC 04, 2011
New York's riches come at a price

Love it or hate it, New York elicits strong opinions from just about everyone.

By Andrew Osterland
RIA NEWS DEC 04, 2011
St. Louis: The pros and cons for advisers

St. Louis might be brushed off as flyover country by some coast-to-coast travelers, but it has become the final destination for many financial advisers.

By Lavonne Kuykendall
RIA NEWS DEC 04, 2011
Satisfied in Seattle: More clients than competitors for RIAs

Despite is reputation for gray skies, Seattle has weathered the nation's economic storm better than most of the U.S. That fact, combined with the area's recreational opportunities and quality of life, makes some financial advisers who live and work there pretty satisfied.

By Dan Jamieson
PRACTICE MANAGEMENT DEC 04, 2011
SEC's enhanced adviser probes yield $262,000 in fines, reimbursements

Three investment advisory firms agreed to pay a total of $262,000 to settle Securities and Exchange Commission allegations that they failed to put in place and implement required compliance procedures.

By Liz Skinner
Advisers can slice and dice peer data via Fidelity study
RIA NEWS DEC 02, 2011
Advisers can slice and dice peer data via Fidelity study

An online dashboard created by Fidelity Institutional Wealth Services allows RIAs to compare themselves to their peers.

By Lavonne Kuykendall
Insider-trading trail leads feds to big fund firm: Sources
REGULATION AND LEGISLATION DEC 02, 2011
Insider-trading trail leads feds to big fund firm: Sources

Employee at fund firm reportedly to be charged this month; traders at two research firms also under investigation

By John Goff
Former fund manager gets five years for 'blurred' thinking
REGULATION AND LEGISLATION DEC 02, 2011
Former fund manager gets five years for 'blurred' thinking

Skowron apologizes for insider trading, saying he had 'slipped into the world of relativism'; slips into an orange jumpsuit in January

By John Goff