Regulation

The presumptive Republican nominee has given almost no details about his plan to replace the Dodd-Frank Act.

On May 11, 2012, Mary L. Schapiro said the Securities and Exchange Commission intends to directly “confront’’ a new round of long-term reforms to the nation’s money market mutual funds.

Chairman Mary L. Schapiro said Friday that the SEC is in the midst of “honest open debate” on additional reform for the $2.6 trillion money market mutual fund industry. But she did not commit the SEC to proposing their net asset values be allowed to float, as a means of preventing a future run.

FINRA is substantially underestimating the costs to set up a self-regulatory organization for investment advisors, according to a review by an outside consulting firm. In response, FINRA says the review should be viewed with “skepticism and amusement.”

ICI chief Paul Schott Stevens said Wednesday that mutual funds need to invest in commodities and derivative securities in order to manage market swings and protect everyday investors. He called new CFTC rule changes 'unwarranted, redundant and costly.'

FINRA has hired Robert Colby as its chief legal officer, replacing the broker regulating body's general counsel, Grant Callery, and its general counsel for regulation, Marc Menchel.

Large retirement plan providers tried to offer California’s teachers and other education workers simpler plan options, but the Financial Services Institute said it should not come at the expense of access to quality personalized investment advice.

Two groups representing mutual fund independent directors and trustees are joining together to voice their concerns about the changes to money market funds currently being considered by the Securities and Exchange Commission.

Every year FINRA sends hundreds of inquiries to firms that are not broker-dealers, including RIA firms, about suspicious trading. How you respond is critical.

On May 3, two mutual fund groups vocied their concerns over the SEC’s money market fund proposals.