Practice

The Securities and Exchange Commission has opened a website originally created for internal purposes at the Office of Compliance Inspections and Examinations to fight anti-money laundering, for compliance officers at mutual funds.

As the stock market continues to stumble along, high-net-worth investors are becoming increasingly pessimistic about the economy and dissatisfied with the performance of their financial services providers.

Given the turbulence in financial markets, now may seem an inopportune time for financial advisers to make drastic changes to the way they interact with investors.

The Securities and Exchange Commission could mandate the use of eXtensible Business Reporting Language (XBRL) in mutual fund risk return summaries by as early as the first quarter of next year, according to industry experts, putting many fund companies on the data-tagging fast track.

A Florida-based law team is working to help investors of the failed Charles Schwab YieldPlus Fund recuperate some of their losses.

Fulton Financial Corp. in Lancaster, Pa., is preparing to offer a fee-based advisory service for its retail investment customers, the head of its wealth management and trust businesses said.

The days of 401(k) plans being managed by human resources executives inexperienced in orchestrating investment decisions may soon be over. Ninety-four percent of senior executives at 125 companies surveyed by Cowden Associates said they are involved in selecting and monitoring fund companies, administrators and options in their company’s 401(k) plan, and scrutinizing fees. That’s up significantly from only 30% in 2007.

MassMutual’s retirement services division is offering a customized 401(k) tool for plan sponsors and retirement plan advisers, based on asset allocation tools from Morningstar.

After years of waiting to be compensated for damages done to their investment holdings by market timers and late traders, Janus investors will finally receive $100 million worth of restitution.

After months of vacancies, Chairman Christopher Cox finally has a full slate of commissioners to work with at the Securities and Exchange Commission.