Practice

It appears the best way to broker a compromise on a hot-button issue in the regulatory reform bill is to study it. That, at least, is the approach taken in Senate Banking Committee Chairman Chris Dodd's 1,300-plus-page bill, which includes more than two dozen studies on topics from industrial loan companies to contingent capital to the implementation of the Volcker Rule.

The Financial Industry Regulatory Authority announced Thursday it has reached settlements with units of HSBC and U.S. Bancorp related to the sale of auction-rate securities that became illiquid when auctions froze in February 2008.

The civil suit filed against Goldman Sachs by the Securities & Exchange Commission alleging securities fraud could strengthen the argument to establish a universal fiduciary standard, according to legal experts.

The Department of the Treasury on Friday issued a questionnaire to primary dealers asking them how the SEC’s new money market fund rules, which take effect on May 5, could impact demand for Treasuries and the broader Treasury repo and cash market functioning. Treasury is seeking the information ahead of a meeting with the dealers on April 30.

NEW YORK—The financial services industry might want to take a cue from Domino’s Pizza before declaring “mission accomplished” on the economic crisis.

According to Sullivan, everyone has multipliers, each of which are related to five main topics: Time, people, money, technology and purpose in life.

Hampered by loan losses, Wilmington Trust Corp. reported a loss in the first quarter, but the company remained positive about its wealth management and corporate client services businesses.

Dodd calls for study on performance information in advertisements.

Senate Banking Committee Chairman Chistopher Dodd (D-Conn.)’s financial overhaul bill takes issue with performance information in mutual fund advertisements and asks for a review of the practice by the comptroller general.

Between women living longer and financial crisis, they are concerned more than ever about not having enough money to last throughout their lifetimes. As a result, more women are buying income annuities to ensure they have sufficient retirement income.