Practice

Iowa has launched a “Baby 529 College Savings Giveaway” program in which it will randomly award $1,000 in money toward a 529 plan to one baby a month at participating Iowa hospitals. Every family that registers their child, however, will also receive a small “welcome home” gift, courtesy of Iowa State Treasurer Michal L. Fitzgerald.

Welcome to Money Management Executive's 6th Annual Fund Operations Awards.

This Tuesday, June 3, the Senate Banking Committee will consider three nominations to the Securities and Exchange Commission, possibly paving the way for a number of mutual fund measures to be decided upon.

Many mutual fund industry analysts are skeptical that the Securities and Exchange Commission will take final action on any of its outstanding proposals this year, but if it does, the summary prospectus and XBRL tagging are likely to top the list, with a proposal on changes to 12b-1 fees to follow in 2009.

While not exactly a national victory for the mutual fund industry, a recent court ruling regarding "excessive fees" could set a strong precedent for further disputes.

After spending the past 10 months as acting chief, Securities and Exchange Commission Chairman Christopher Cox finally decided to name Rosalind Tyson the official director of the commission’s Los Angeles office – a region that covers Southern California, Nevada, Arizona, and Hawaii.

NEW YORK—The European Union’s UCITS, or “Undertakings for Collective Investment in Transferable Securities,” have been gaining tremendous traction throughout the EU, and even Latin America and Asia. Middle Eastern countries are even beginning to warm up to the instruments, as they are tightly regulated by their host countries and designed to protect the end investor.

The Senate Banking Committee will consider three nominations to the Securities and Exchange Commission this coming Tuesday, June 3.

Missouri State Treasurer Sarah Steelman has declared May 29 as “529 College Savings Day,” in part to draw attention to the tax-advantaged college savings plans and to roll out a new Web-based resource that allows family and friends to make online contributions.

Michael Iavarone may have rung the opening bell at the New York Stock Exchange yesterday and be poised, as owner of the magnificent Big Brown, to win the Triple Crown, but he can’t win them all.