Practice

On August 8, 2012, David Wray, president of the Plan Sponsor Council of America, will retire from his post as president of the PSCA at the end of September.

FINRA has fined Wedbush Securities $300,000 and levied an additional $25,000 fine and suspension for its president, Edward Wedbush.

On August 7, 2012, Morrison & Foerster has added two Of Counsels to its Denver office.

Schwab Advisor Services has expanded its "Insight to Action" practice management consulting program for registered investment advisors.

Advisors contributed to the growth in Fidelity's defined contribution sales commitments during the first half of 2012, bringing in more than 450 new clients with close to 100,000 participants and $2.6 billion in assets under administration.

The head of the House Financial Services Committee is renewing his call to act on legislation to increase oversight of investment advisors, a bipartisan bill that stalled in the committee last month.

Bank of America Merrill Lynch has grown its new financial benefit plan assets to a record $20 billion this year as it leverages stronger ties between its bank and brokerage forces.

Steve Wershing, "The Referral Doctor," says the client advisory board is every firm's most important tool for gathering detailed client feedback. But to take advantage of this wealth of information, your board's preparation is critical.

Chairman Mary Schapiro said she is asking SEC staff to propose a rule that will require exchanges and market centers to ensure the capacity and integrity of the systems they operate.

As legal eagles-including regulators, cops and attorneys-continue to swoop down for the kill in the wake of the LIBOR debacle, asset managers still struggle to gauge the scandal's impact on their investments.