Practice

A small news item last week on the launch of a financial literacy course in the Shelby County school district in Tennessee this fall got me thinking about a golden opportunity for individual mutual fund companies or, perhaps, the industry as a whole.

A small news item last week on the launch of a financial literacy course in the Shelby County school district in Tennessee this fall got me thinking about a golden opportunity for individual mutual fund companies or, perhaps, the industry as a whole.

Despite the hurly-burly set off by Securities and Exchange Commission Chairman Christopher Cox's request that Congress eliminate soft-dollar safe harbors, industry insiders argue that such a change will result in nothing but toil and trouble for retail investors.

The NASD collected roughly half the amount of fines in 2006 compared to 2005, taking in $84.9 million in 2006, compared to $134.3 million in 2005, according to its annual report. The NASD issued another $75 million in fines in 2006, compared to $148.5 million in 2005.

Regulation continues to weigh on fund executives' minds as their number-one concern, according to a PricewaterhouseCoopers survey of 400 senior finance executives at a forum last month.

The Securities and Exchange Commission announced that BISYS Group is paying $25 million in disgorgement and interest to settle charges of violating financial reporting, books and records and internal control provisions of the Securities Exchange Act of 1934.

Money Management Executive this week has released a comprehensive, unique set of 529 data to help mutual fund companies, financial advisers and their clients more accurately plan college savings in both the short- and long-term.

As Money Management Executive launches this year's set of State Tuition Index and Datasheet reports, a new paradigm for evaluating college savings plan is introduced. With MME's TuitionMAR (minimally acceptable return) statistics, a set of core absolute return benchmarks is now available to assist mutual fund companies, 529 plan sponsors and financial planners in evaluating the ongoing success of a college savings plan investment.

As the $144.5 billion playing field for target-date, or lifecycle, funds continues to get more and more crowded-last year fund companies introduced 302 target-date funds and assets soared 61%-the funds are diversifying their holdings to distinguish themselves. Others are extending their equity exposure with the goal of equipping longer-living retirees with enough money to last throughout their lifetimes.

Especially now that the news has leaked that hedge fund managers are raking in incredible salaries-some making more than $1 billion a year-Congress is undoubtedly going to be taking a serious look at increasing regulation of hedge funds, according to a number of reports. And that has many hedge fund managers stepping up their political contributions, hiring lobbyists and, in some cases, forming their own political action committees, according to The Economic Times.