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Senators introduce bill promoting e-delivery of investment documents
The bipartisan legislation to encourage electronic delivery is broadly welcomed but advisor expresses reservations.
Shut up and take our money, investors say about financial advice
Demand for paid financial advice is at a high level and rising, survey data show.
Industry groups question justification, cost of SEC trading-execution reforms
Critics say proposals that target payment for order flow try to do too much, too fast, and conflict with rules in place that are working.
SIFMA names two high-profile politicians to top posts
Gregg, Bentsen hired to lead securities industry group; want DOL to ditch fiduciary reform.
Industry stiffs DOL on request for IRA data in fiduciary analysis
The financial industry is butting heads with the Labor Department over providing data for a cost-benefit study related…
Finra eyes wholesalers’ role in vending
Wholesalers, watch out. Finra is taking a clear interest in wholesalers' roles in the sale of products…
SIFMA, Finra clash over deadbeat brokers
Increasingly, brokerages are being stiffed by ex-reps who were given hefty loans as recruiting incentives. SIFMA wants Finra to write a tougher rule to help battle deadbeat brokers. So far, no dice.
Don’t change rules because of deadbeat brokers
While brokerage firms have every right to expect former brokers to honor the agreements they make when accepting recruiting and retention bonuses, Finra should resist pressure to rewrite its rules to make it easier for firms to collect unreturned bonuses.
Krawcheck: Clients still like advisers, but not their firms
According to Sallie Krawcheck, investors are happy with their financial advisers; they just don't like the firms that their advisers work for
Frank — the industry’s unlikely new ally
Barney Frank still has game. When Republicans gained control of the House in the 2010 election, the…
Future of financial transactions tax unclear
Legislation introduced last week that would impose a federal tax on financial transactions may be doomed as a stand-alone bill, but proponents say that it should be included in any broad deficit-reduction proposal
Industry trade groups flex lobbying muscles
As improved life expectancy stretches the retirement timeline for 76 million baby boomers, the insurance industry is hoping…
Volcker rule could change bank profit dynamics
One unintended consequence of the long-awaited Volcker rule, which was mandated by Dodd-Frank and finally issued by U.S. regulators last week, may be increased pressure on the retail-wealth-management businesses of wirehouses to contribute more to overall profitability
Fiduciary timetable pushed back into 2012
Advocates of extending fiduciary duty to cover more financial advisers had their hopes dashed last week — at least temporarily — as the two federal agencies that have been considering such a rule acknowledged that no action will be taken this year
SIFMA pushes for adaptable fiduciary standard
The major lobbying group for large broker-dealers last week urged the SEC to develop a new fiduciary standard that could change from customer to customer and which would be spelled out at the start of an adviser-client relationship
Whiz kids beat market
A team of Illinois high school students took a hypothetical $100,000 and turned it into $171,640.60 over 14 weeks, walking away with top honors in the 2011 SIFMA Foundation Stock Market Game
Disclosure at the center of fiduciary tug of war
With the deadline approaching for the SEC to deliver a much-anticipated report about the regulation of financial advisers, the fight over establishing a universal standard of care is heating up
SIFMA must stay active as regulatory rules are drawn up
RBC Wealth Management (U.S.) chief executive John Taft, the incoming chairman of the Securities Industry and Financial Markets Association, delivered remarks at the organization's annual meeting Nov. 8 in New York.
Reform becomes law as questions abound
The sweeping financial-regulatory-reform legislation that President Barack Obama will sign this week represents anything but closure for Wall Street.
‘Dramatic’ financial reforms now imminent for Wall Street
The financial regulatory reform legislation sought by the Obama administration, mired just weeks ago in a partisan congressional logjam, is likely to be passed by early summer, with major implications for the securities industry, a leading industry lobbyist said last week.
