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New rules will require institutional prime funds to allow NAV to float to market value.
Rep. Spencer Bachus (Ala.) is the first Republican in Congress to endorse the Investment Adviser Examination Improvement Act.
The panel is comprised of seven public members and six industry representatives, pulling together advocates, attorneys, regulators and executives from firms such as Citigroup, Morgan Stanley and Securities America.
Wealth management is poised to benefit significantly from an aging global population and a substantial wealth transfer, a new study from Merrill Lynch shows. But some evidence suggests the industry is unprepared.
What's driving this new interest? Follow the money: U.S. retirement assets totaled $23 trillion in the first quarter of this year.
Opponents argue that the long time horizon and heated controversy could convince the White House to back away from the retirement plan proposal.
Amid an outreach overhaul, the agency's Division of Investment Management says it wants asset managers to give advisors and investors a 'clear and concise' picture of their investment strategies.
Financial products and markets are so thoroughly intertwined that regulators need to take a more holistic approach than they have in the past.
New options could stake out a middle ground between a lump-sum payout from a 401(k) and putting the entire plan into an annuity.
As more and more advisors consider alternative investments, they must ensure that they are conducting thorough due diligence before recommending hedge funds, private equity funds or other non-traditional assets.
For all the hype around alternatives, advisors should take note that regulators are watching how hedge funds, private equity funds and other non-traditional asset classes are handled.
On first Capitol Hill advocacy day, FPA advisors are meeting with policymakers to push for greater fiduciary oversight and regulation.
The SECís enforcement division has tightened oversight of advisors by focusing on some specific, often-times arcane practice areas.
Most boomers want more from their post-career years than cruises and golf, a Merrill Lynch survey finds. Advisors should take note as they help clients plan for life after their primary career.
With new regulations on the horizon, a top FINRA official highlights the agency's efforts to establish a more flexible oversight regime that will be less of a drain on a practice's resources.
Critics of the DoL's effort to extend fiduciary responsibilities to retirement plan advisors scored a victory this week when the agency disclosed that it is pushing back the rollout of its proposal until at least next year.
Two issues that advisors have been closely watching are near the top of the commissionís list; namely, efforts to expand oversight of RIAs and enacting stabilizing reforms for money market funds.
The fund association maintains the industry is already heavily regulated, and in the event of failure a single fund can exit the market in an orderly process with little disruption, unlike banks.
In its zeal for products and performance, the fund industry is not delivering what todayís advisors need.
FINRA CEO Richard Ketchum praised one SEC commissioner for floating a new proposal to beef up examinations of the RIA industry independently of Congress.