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After being named head of the Financial Services Roundtable on Thursday, former Minnesota Gov. Tim Pawlenty laid out his agenda for the trade group, saying banks need to do more to police themselves.

CEO John Stumpf offered candid views on monetary policy, the housing crisis, capital rules and even consumer protection during a panel discussion late Wednesday.

Merrill Lynch Wealth Management has decided to increase its minimum equity trade fees to $75 from $50 following a year of research on how its pricing fits the market.

Gabelli Adds Hedge Fund Vet to Alt Unit

Cynthia Egan, head of retirement plan services at T. Rowe Price, is retiring on December 31.

For those in the business of providing investment advice, the situation in the nation's capital is getting serious. With Washington gridlocked and steeped in uncertainty over a series of tax cuts set to expire at the end of the year, members of the Senate Finance Committee and House Ways and Means Committee met for a joint session to consider a critical and contentious facet of the tax code: capital gains.

Pewaukee, WI-based Capital Innovations is currently prepping a fund that will bet on timber and farm-related, the Journal Sentinel reports.

Tim Pawlenty, the former Republican governor of Minnesota who criticized Wall Street while running for president last year, is joining the Financial Services Roundtable as president and chief executive officer.

Broadridge Financial Solutions has launched Broadridge Fluent, a new service that aims to significantly improve communications between financial services firms and their customers via marketing, transactional and regulatory communications.

A survey from the Oechsli Institute reveals that advisors are underusing the personal aspects of social media to build client rapport.