An industry association that represents the interests of retirement plan service providers this week will suggest modifications to proposed legislation that would require the industry to break out 401(k) fees on investors' statements.
In another sign that industry-affiliated arbitrators may be on their way out, the Financial Industry Regulatory Authority Inc. wants to stop using industry panelists in most cases involving a registered representative and a brokerage firm.
Finra chief Richard Ketchum's call for a fiduciary standard for all advisers, even as he indicated that he would not want to significantly alter suitability rules for broker-dealers, highlights the difficulties inherent in harmonizing the two regulatory standards as the strife-torn industry moves towards establishing a single self-regulatory organization for advisers.
The lack of a uniform fingerprinting requirement for insurance agents and brokers may serve as new ammunition in the battle over federal regulation of the insurance industry.
If legal action against Fisher Investments is any indication, financial advisers increasingly will face lawsuits and arbitration claims from clients who are angry about investment losses.
The Financial Industry Regulatory Authority Inc. will likely take a more active role in the examination of registered investment advisers as a result of regulatory reform, the Tower Group Inc. concluded in a study to be released Monday.
House Democrats are looking at big health care changes, including federal aid to help families earning up to $88,000 pay for insurance and a requirement that all must carry coverage.
The legislative proposal is the administration's first major step in overhauling the nation's financial regulatory system.
A former employee of Ladenburg Thalmann Financial Services Inc. of Miami has filed $5 million arbitration claim against the firm and its subsidiary, Investacorp Inc., for alleged breach of contract.
Members of Congress today weighed the implications of the federal government’s regulating the insurance industry.
Fisher Investments, one of the country’s most noted investment advisory firms, has been tagged with a $1.2 million arbitration claim, alleging that it failed to live up to its fiduciary duty during the recent calamitous market meltdown.
President Obama will likely sign comprehensive financial services regulatory reform legislation into law by yearend, House Financial Services Committee Chairman Barney Frank, D.-Mass., said today at the Financial Industry Regulatory Authority Inc.’s annual meeting in Boston.
Congress will review legislation next week proposing regulation and oversight for investment advisers of municipalities, according to House Financial Services Committee Chairman Barney Frank, D.-Mass., in remarks today at a meeting of the Financial Industry Regulatory Authority Inc. in Boston.
President Obama has asked for $1 billion to create a new agency that will support the automatic individual retirement account proposal included in his 2010 budget.
The head of the Securities and Exchange Commission said today she favors a new proposal for federal regulators sharing oversight of companies that pose financial risks to the economy.
Although regulatory reform will result in more-stringent enforcement in the wake of the financial crisis, the authorities in charge of that enforcement are not likely to change much, according to a panel of experts speaking today at the Financial Industry Regulatory Authority Inc. at its annual conference in Boston.
Federal Reserve Chairman Ben Bernanke today called for a holistic approach to strengthening oversight of the banking system to prevent future financial crises.
The head of the Federal Deposit Insurance Corp. says new powers are needed to oversee companies that pose financial risks to the economy, an authority that could be shared by the FDIC and other regulators.
President Obama’s <a href= http://ciedit.cr.atl.publicus.com/apps/pbcs.dll/article?AID=/20090504/FREE/905049995&NoCache=1>proposal</a> to rein in tax deferrals for U.S. corporations doing business overseas will have a negative impact on the ability of financial services firms to compete worldwide, according to the Financial Services Roundtable.
