Regulation

The co-chairman of President Barack Obama’s 2010 fiscal commission said it’s unlikely the president and Congress will reach a deal by the end of this year to avert the so-called fiscal cliff.

President Obama plans a private lunch tomorrow with his election opponent Mitt Romney, amid a face-off with congressional Republicans over taxes and spending and how to cut the deficit.

Morgan Stanley Chief Executive Officer James Gorman called on the investment bank’s employees to pressure U.S. lawmakers into reaching an agreement that averts the so-called fiscal cliff.

Sure, investors still feel nervous, companies are hesitating to spend cash, and all attention is on fixed income and bond funds.

Goldman Sachs Group Inc. Chief Executive Officer Lloyd Blankfein is among the business leaders invited to the White House Wednesday as President Barack Obama seeks their support for his approach to addressing the fiscal cliff, according to two people familiar with the matter.

Elisse Walter, who has spent the past four years as Securities and Exchange Commission Chairman Mary Schapiro’s closest confidant and behind-the-scenes adviser, will soon step into the spotlight that she has mostly shunned in trying to help her close friend succeed.

JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon would be the best person to lead the U.S. Treasury Department in a financial crisis, billionaire investor Warren Buffett said.

Whether it's capital surcharges for fund companies designated as "systemically important" or dealing with new fiduciary rules for advisors and brokers or the much-feared reform of money funds, the bill is about to come due-and get paid.

SEC Chairman Mary Schapiro is leaving the agency, after helping turn around its tarnished reputation in the wake of the financial crisis.

Goldman Sachs Group Inc. Chief Executive Officer Lloyd Blankfein is among the executives scheduled to meet with U.S. House Republican leaders on the so- called “fiscal cliff,” according to a House aide.