The Securities and Exchange Commission is reportedly reconsidering its proposal to require funds to impose a 2% redemption fee on shares sold within five days of purchase. Of the 280 comment letters the SEC has received on this proposal, 250 are against it, citing increased costs for investors, the difficulty of implementing since many funds are held through retirement or omnibus accounts and the inappropriateness of a government body setting fees. In fact, some at the SEC reportedly believe that requiring funds to disclose their policies to detect and prevent timing is adequate, and they are pushing to make a redemption fee optional.
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Amid a busy April for big hires, compliance tech provider COMPLY and wealthtech platform TIFIN have brought on industry vets Michael Stanton and Jeannette Kuda, respectively, aiming for strategic growth.
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After a mixed quarter for the firm's wealth unit, CEO Ron Kruszewski predicted that the Fed may cut rates zero or just once or even hike them in 2024.
April 24 -
The U.S. Chamber of Commerce and other business groups contend the Federal Trade Commission has exceeded its authority in nullifying contracts that prohibit employees from switching jobs to competitors.
April 24 -
Retirement doesn't have to mean scrimping and saving. Here are five parts of the country where seniors are living large in their golden years.
April 24 -
Advisor360° names former MassMutual exec Mike Fanning as its new CEO
April 23