Practice

The Commodity Futures Trading Commission and the Securities and Exchange Commission both say they lack the resources to implement the responsibilities thrust upon them by the Dodd-Frank Wall Street Reform Act. Here are the numbers. You judge how they stack up.

Firms have been tracking the adjusted cost basis of the equities and mutual funds bought and sold by investors for years. The challenge now is how best to capture this data and accurately report it to the IRS and investors.

PHOENIX-- About 40 years ago, they were told to cut their hair and find a real job.

The Securities and Exchange Commission Wednesday said it would start the process of setting rules for how security-based swap execution facilities will operate and how registration of such facilities will work.

Just over one-third, 34%, of Americans have no retirement savings, and 27% have no personal savings, a November 2010 survey of 2,151 by The Harris Poll found.

It doesn’t take a rocket scientist to figure this out: Without a new tax on the securities industry, there won’t be reform of same.

Advisors need to consider a Net Unrealized Appreciation calculation, according to C. James Johnson, a presenter of retirement planning and tax strategies for Allianz Life Financial Services.

Fidelity Investments on Wednesday announced a new website, “Income Answers” (www.fidelity.com/incomeanswers), to help plan participants nearing or living in retirement manage their money responsibly so that they will have enough income to live on throughout their retirement.

The data is available through the Fidelity clearing unit’s online workstation.

If only the administration's task in fixing housing finance was as easy as choosing plan A or plan B. Instead, part of the Treasury Department's challenge is just sifting through all the ideas.