Practice

The Securities and Exchange Commission has launched a review of a failed investment by five southeastern Wisconsin school districts in collateralized debt obligations that were intended to establish trusts to pay the districts’ non-pension retiree health care benefits.

The Securities and Exchange Commission said Monday it charged ICP Asset Management LLC and its founder and president, Thomas Priore, with defrauding investors four multi-billion-dollar collateralized debt obligations

House conferees reached an accord with Sen. Richard Durbin on a provision of the regulatory reform bill that would allow the Fed to regulate interchange fees on debit cards.

Individual Retirement Account assets have overtaken assets held in 401(k) plans and 403(b) plans for the first time, according to a Cogent Research report.

Now that custodians like Schwab Advisor Services will have to report the same information directly to the Internal Revenue Service, Schwab is taking steps to ensure that they and their advisor clients move in lock step with each other to avoid running afoul of the IRS’s new rules.

The Senate is considering a set of exemptions to the Volcker Rule that would allow the asset management divisions of banks to continue business as usual when it comes to investing client money in hedge funds and private equity.

The hiring mill keeps grinding at the wirehouses, as MSSB adds two teams of advisors with combined client assets of more than $1 billion.

Wealthy individuals now hold more of their assets in IRAs than employer-based plans.

A two-year extension to the Build America Bonds program, as well as extensions to a handful of other bond provisions set to expire at the end of the year, remain in legislative limbo as Senate Democratic leaders this week continue attempts to produce a tax bill that they can pass.

The conference committee made critical changes to the regulatory reform bill in its first substantive week of work, but the hardest decisions are still ahead.