Practice

The Municipal Securities Rulemaking Board is expected to file long-awaited rule changes with the Securities and Exchange Commission that would implement the final phase of its transparency system for auction-rate securities and variable-rate demand obligations.

Senate Banking Committee Chairman Chris Dodd said Tuesday that he continues to hope for a strong bipartisan regulatory reform bill, but he offered no fresh details on developments in negotiations.

Tarp warrants could spawn a new source of funds for banks

Bank regulators issued 1,143 formal enforcement actions against banks and their holding companies last year, a new record and more than double the 2008 tally.

Money market funds are welcoming the Federal Reserve’s offer to buy an estimated $1 trillion in reverse repos, as the economy continues to rebound and the government looks to reduce the $2 trillion it pumped into the capital markets.

While sales of variable annuities declined 18% to $127 billion last year, guaranteed living benefits remained popular, with 84% of policyholders electing to buy those riders in the fourth quarter, according to LIMRA.

Capital Fulfillment Group has debuted ClickOne, a summary prospectus tool in compliance with Securities and Exchange Commission rules. Using patented technologies, it is designed to offer a simple and cost-effective way for mutual fund companies to equip investors with summary prospectuses via print-on-demand. CFG estimates this will reduce asset management firms' printing costs by 80%.

While workers’ confidence in their ability to retire and at least pay for basic expenses has rebounded since the start of the recession, Americans clearly are not setting their expectations high enough.

The company launched an FDIC-insured, high-yield online savings accounts and certificates of deposit.

The number of U.S. households with a net worth of $1 million or more, not including primary residence, increased 16% to 7.8 million last year, according to a report released Tuesday.