Judge Rakoff: IRS letter about payment to NASD members will remain sealed
A federal judge yesterday declined to unseal a March 2007 IRS opinion letter that laid out guidelines for the payment the NASD made to member firms following the 2007 merger with the NYSE.
Feds tweak data to keep inflation low, hurting seniors and investors, critics say
The government is manipulating the Consumer Price Index in an attempt to keep inflation low and save money, and that has major implications for retirees and some investors, several statisticians who analyze government data say.
Why the CPI reflects ‘massive shell game’
Investors in Treasury inflation-protected securities should be aware the “government is playing games with the CPI numbers” in an attempt to keep inflation low, said Robert Arnott, chairman of Research Affiliates LLC.
Watchdog slams Finra’s ‘abysmal’ record
A good-government group is asking Congress to rethink the concept of self-regulation.
Case-Shiller: Real estate marts still mixed
The latest S&P/Case-Shiller Home Price Index, released today, shows a mixed picture: Some metro markets are improving, others are still searching for a bottom, and prices are down an average 0.2% in November across 20 metropolitan markets.
Moody’s commercial property index nudges higher
In another sign that the commercial property market may have bottomed out, the Moody's/REAL Commercial Property Price Index showed a 1% gain in November.
HighTower nabs two brokers from UBS
HighTower Securities LLC has added to its wealth management and international advisory teams with the recruitment of two brokers from UBS Financial Services Inc.
Finra exams boss to leave in March
Robert Errico, Finra's executive vice president for member regulation, will leave the organization at the end of March.
Finra laying off five enforcement officials, report says
The Financial Industry Regulatory Authority Inc. is laying off five enforcement officials, according to a Dow Jones report.
B-Ds fret over proposed placement agent rules
A bill introduced yesterday in the California Legislature would require money manager placement agents to register as lobbyists and regulate their compensation.