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.
Despite the downturn in the economy, the number of health savings accounts and assets held in the plans continue to grow, a new study released today showed.
The 'Geritol Gang' tried to recoup investment losses by making off with their financial adviser. Now, they're looking at serious prison time.
Mary Schapiro, chairman of the Securities and Exchange Commission, is correct: Fiduciary standards for all who give investment advice won't be sufficient to deter fraud.
Target date funds are ripe for regulation — a conclusion made abundantly clear at a joint Department of Labor and Securities and Exchange Commission hearing this month dissecting these popular retirement funds.
Highlighting investor concern about the market effects of short selling, more than 3,000 comments have been filed with the Securities and Exchange Commission on proposed changes to the short-sale rule.
Even though independence is losing its stigma as a sign of failure among wirehouse brokers, they continue to move at only a moderate pace to independent broker-dealers and registered investment advisory firms, a panel of experts said last week.
Broker defections, a loss of market share and spinoffs could be on the horizon for insurance-affiliated broker-dealers if the Obama administration's proposed regulatory reforms force them to act as fiduciaries.
The Stanford and Madoff fraud cases have put the brokerage industry's disclosure system under the spotlight.
Complain as they do about technology, financial advisers don't realize how good they have it compared with managers of family offices.
