Practice

Advocating a sort of clean slate for all investors in 401(k) plans, Vanguard issued a report Thursday suggesting that all plan sponsors reenroll participants into qualified default investment alternatives (QDIAs).

In a widely anticipated move Wednesday, the Securities and Exchange Commission unanimously approved a requirement for mutual funds to send investors a short-form, summary prospectus.

Hoping to capitalize on the continued popularity of exchange-traded funds even as the markets continue to tank, Barclays Global Investors has introduced a suite of target-date ETFs for 401(k)s.

The European Union, which has been in favor of new rules and capital requirements for hedge funds and private equity, will propose such regulations next month to the European Commission, Reuters reports.

Testifying before the House Oversight and Government Reform Committee last Thursday on the role of hedge funds in the credit crisis, five prominent hedge fund executives said they would be in favor of establishing a public exchange or clearinghouse for credit default swaps (CDS) to make the market more transparent.

The Securities and Exchange Commission will not revisit 12b-1 fees by the end of the year, Andrew Donohue, director of the division of investment management, told Reuters.

The President’s Working Group on Financial Markets is looking at ways to better understand and regulate derivatives and credit default swaps, which essentially are insurance on corporate debt.

The Securities and Exchange Commission will vote at its Nov. 19 meeting next week on a provision to allow shortened mutual fund disclosure statements.

Testifying before the House Oversight and Government Reform Committee onThursday on the role of hedge funds in the credit crisis, five prominent hedge fund executives said they would be in favor of establishing a public exchange or clearinghouse for credit default swaps (CDS)to make that market more transparent.

Charles Schwab on Wednesday unveiled an eight-step plan to help people prioritize both their short-term and long-term savings objectives.