Practice

Add target-date funds to the list of headaches for advisers and investors.

Like it or not, and most large banks don't, the Volcker Rule to ban proprietary trading is now all but certain to be enacted in regulatory reform.

WASHINGTON—The Department of Labor and the Securities and Exchange Commission on Thursday issued an investor bulletin on target-date funds to better explain their intended function, glidepaths and appropriate use (see “SEC, DOL to Require More Target-Date Info,” MME 5/3/10).

WASHINGTON -- The Securities and Exchange Commission is embarking on a nationwide inquiry into municipal securities that will lead to specific recommendations for changes to laws and regulations to better protect investors and the market.

There’s a move for more transparency in target-date funds, although some market observers are convinced they won’t solve the current problems.

In 2010, advisors are looking to grow their business. But in order to have time for recruitment, you’re going to have to let some of your clients go. Here’s how.

WASHINGTON - Securities and Exchange Commission Chairman Mary Schapiro today said the SEC is embarking on a nationwide inquiry into municipal securities that will lead to specific recommendations for changes to laws and regulations to better protect investors and the market.

FINRA said Thursday that it has ordered Los Angeles-based Westpark Capital to pay $400,000 for supervisory system failures, and has suspended two officers for failing to supervise brokers who churned customer accounts and committed other violations.

Macaskill: "We didn't really understand what we owned."

The Financial Industry Regulatory Authority is preparing to take enforcement action against certain firms for selling municipal bonds to retail customers without disclosing material information, including that the bonds’ credit ratings had been spiraling downward, a FINRA official said Thursday.