Regulation

In a litigious era, planners need to be able to prove that they proceeded prudently.

Instead of fighting against bad proposals, shouldn't the RIA community be proposing better alternatives?

The two Republican members of the Securities and Exchange Commission said they are not opposed to further reform of the money fund industry, but that changes advocated by Chairman Mary Schapiro "were not supported by the requisite data and analysis.''

Late on the evening of August 23 Chairman Mary L. Schapiro decided to punt on the biggest issue of the year for the investment fund industry.

Who would've thunk it?

She said, he said. A pair of financial planning organizations are dueling over designations.

The horserace politics of the run-up to the November presidential election may be the order of the day, but just around the corner in Washington lurk what promise to be contentious debates over fiscal issues of major significance for financial advisors and their clients.

Securities America has hired Denise Morrison as its new chief compliance officer.

The former CFO and Treasurer of Legg Mason's fixed income funds has been barred from the securities industry for altering books and records of one of the funds.

The agency's order initiating administrative proceedings alleges that Noah Myers, president of MiddleCove Capital, netted "ill-gotten gains" of about $460,000, while his clients lost more than $2 million from around October 2008 through February 2011, when an employee threatened to report the activity to the SEC.