Displaying 10262 results
House votes to restrict Wall Street pay
The House voted today to slap restrictions on how Wall Street executives are paid after nine banks that took government aid rewarded thousands of their employees with bonuses topping $1 million each.
Congress wants say on Wall Street pay
Congress wants to give the government a direct role in deciding how much executives on Wall Street are paid, after the nation's biggest banks accepted billions in taxpayer money and still managed to distribute $1 million bonuses to thousands of employees.
Surprise! Audits could cost up to $24,000 per pop
If a Securities and Exchange Commission proposal that advisers deducting fees from client accounts conduct annual surprise audits is enacted, such audits could cost as much as $24,000 apiece, some three times the $8,000 estimated by the SEC, according to the Financial Planning Association.
Compensation reform not aimed at brokers, says Frank
The so-called say-on-pay legislation that the House Financial Services Committee is scheduled to act on tomorrow will apply to top brokerage executives, not stockbrokers, Committee Chairman Barney Frank, D-Mass., said today.
Fodder for Congress
The effect of stock market volatility on families' retirement savings is just one issue that Congress should be concerned about, according to a report issued July 14 by the Congressional Research Service in Washington.
ACLI concerned about disability insurance program
The American Council of Life Insurers is worried about efforts to establish a voluntary disability in-surance program.
SEC’s EIA rule may resurface
The Securities and Exchange Commission will likely reissue a rule that classifies equity index annuities as securities and subjects them to federal oversight.
Reform efforts on compensation aim at industry
Tucked into proposed legislation that would place new compensation regulations on top corporate executives, Rep. Barney Frank, D-Mass., has specifically called for financial institutions to adhere to stricter executive pay programs that could potentially be subject to government approval.
Analysts assess winners and losers in health care reform
Depending on the outcome of health care reform, investment opportunities could be found in a variety of related sectors, including pharmaceuticals, biotechnology and even certain insurers.
Geithner, Bernanke clash over consumer financial protection agency
The case for the proposed consumer financial protection agency is clear, Treasury Secretary Timothy Geithner told Congress today — but not to Federal Reserve Chairman Ben Bernanke.
New law adds requirements for CPAs who practice in New York
Certified public accountants who practice in New York — even if they are licensed in other states — will have to register with the New York State Education Department Office of the Professions when a new law goes into effect July 26.
SEC, FDIC heads want new council to be supercop
Key regulators on today broke with the Obama administration, reaffirming their belief that some new powers to monitor big institutions against financial threats should go to an interagency council not the Federal Reserve.
Retirement plans not targets of proposed panel, Frank says
Concerns that a new consumer watchdog agency proposed by the Obama administration could play a role in overseeing retirement plan products are unfounded, Rep. Barney Frank, D-Mass., said today at a press conference on Capitol Hill.
Push to abolish mandatory arbitration lacks muscle
The White House proposal to give the Securities and Exchange Commission the authority to ban mandatory-arbitration contracts falls short in looking out for investors' interests, according to attorneys who represent investors in securities disputes.
Ameriprise to pay $17.3M to settle case with SEC
Ameriprise Financial Services Inc. has agreed to pay $17.3 million to settle charges that it received nearly $31 million in undisclosed compensation for selling its brokerage customers real estate investment trusts between 2000 and 2004, according to the Securities and Exchange Commission.
Advisers favor uniform fiduciary
Financial advisers are overwhelmingly in favor of adopting a uniform fiduciary standard for investment advisers and broker-dealers alike, and they also think that the industry should be governed by a single regulatory body.
Compensation: SEC mandate called too broad
Financial advisers are troubled by an administration proposal that would allow the Securities and Exchange Commission to ban commissions and take other sweeping actions regarding their fees.
Affordable Health Choices Act approved by two key House committees
Two House committees today approved the Affordable Health Choices Act, a health care reform bill that would expand health insurance to 97% of Americans.
Financial Planning Coalition wants oversight board for financial advisers
Going beyond their past call for a professional oversight board for financial planners, the Financial Planning Coalition today will ask Congress to bring under one organizational umbrella all advisers who provide financial planning services.
SIFMA backs fiduciary standard for all advisers, exec testifies before House committee
Wall Street's major trade group has declared its support for a new federal fiduciary standard for broker-dealers and investment advisers who provide personalized investment advice.
