IRVINE, Calif. — State regulators are seeking reinforcements. In a speech this month at the annual meeting of the National Conference of State Legislatures, Joseph Borg, president of the North American Securities Administrators Association Inc., called for the NCSL to develop a more detailed policy statement opposing federal pre-emption of state securities laws.
After examining an aborted insider-trading investigation involving Pequot Capital Management Inc. and Morgan Stanley chief executive John Mack, Senate investigators have concluded that SEC enforcers are concerned about being undermined by their supervisors.
Independent-contractor broker-dealers and their registered representatives face pressure on all fronts, from recruiting and proper practice management to compliance and the best way to build up their businesses.
As ripples from the imploding subprime-mortgage market spread across the broader home lending industry, financial advisers might have to start helping clients reposition their mortgage and home equity exposure.
Proposed IRS regulations that affect trusts and estates would carry with them a host of ills — including more trust fees for beneficiaries, additional work for financial advisers and increased client exposure to the alternative minimum tax — advisers and industry experts say.
Washington tax talk these days seems focused on hedge funds, their investors and their managers.
WASHINGTON — More financial advisers will specialize in becoming fiduciary advisers who work with 401(k) plans in coming years, according to a retirement executive who worked on a white paper on the issue.
Client portfolios may be affected by the fallout from turmoil in the subprime mortgage market — but advisers aren’t exactly sure where the problems may lie and don’t believe their software tools can give them timely answers.
WASHINGTON — Estate planning lawyers are increasingly worried that Congress may not act on estate tax reform before the estate tax repeal expires at the end of 2010.
Coby Brooks, the son of the late founder and owner of the Hooters restaurant chain, is in an estate battle with his father's widow, arguing that a commonly used estate law is unconstitutional.
An online-access snafu put a glitch in Linsco/Private Ledger Corp.’s plans to compete with the largest firms in the industry and left 7,000 financial advisers unable to place trades, view accounts or perform other routine tasks for most of last week.
As the first anniversary of the Pension Protection Act approaches, financial advisers remain wary of target date mutual funds.
Financial advisers are reeling from the abrupt resignation of Ellyn A. McColgan last week from Fidelity Investments.
A massive snafu is stopping 10,000 advisers affiliated with Linsco/Private Ledger Corp. from doing business online.
Financial advisers who use a BlackBerry or other smart phone soon will be able to access a wider range of financial tools and applications.
NEW YORK — In a break with its past, Waddell & Reed Inc. will offer its advisers updated technology and next year will introduce a new outside platform for its top 300 or so registered representatives, company executives said last week.
It’s FINRA, and it’s final. But the name of the self-regulatory organization formed by the consolidation of NASD’s and the New York Stock Exchange’s regulatory units is drawing a new wave of criticism.
NEW YORK — Retirement is already scary for both near-retirees on a tight budget and their planners, but these clients may warrant a second look, advisers said.
CHICAGO — The role of financial advisers won’t be diminished by the new 403(b) regulations released late last month, according to industry experts.
