Regulation

The advocacy organization representing independent broker-dealers and independent financial advisors will press its policy priorities to lawmakers on Capitol Hill as part of a two-day summit in the nation's capital.

Wall Street firms shouldn't think about complying with the Internal Revenue Service's new rules requiring them to calculate the cost of investors' accounts only as a burdensome operational cost. Instead, they should think of following the new cost-basis reporting rules as a potentially profitable means of retaining and attracing new clients, says a report just issued by research firm Celent.

The nation’s stock exchanges and the Financial Industry Regulatory Authority are filing proposals that will trigger halts in trading, market-wide, more quickly, the Securities and Exchange Commission said.

UBS AG announced that CEO Oswald Gruebel has resigned and that Sergio Ermotti will assume the top spot at the Swiss bank on an interim basis.

The Department of Labor announced Monday that it has pulled its current proposal for the definition of a fiduciary off the table. The agency will take up the issue in early 2012 and re-propose a fiduciary definition after more industry input.

The Securities and Exchange Commission has approved the proposal of a new rule designed “to prohibit certain material conflicts of interest between those who package and sell asset-backed securities (ABS) and those who invest in them.”

Investment advisor advocates are breathing easier after the Department of Labor announced Monday that it has pulled its current proposal on the definition of a fiduciary off the table. The agency will take up the issue in early 2012 and repropose a fiduciary definition after more industry input.

Investment advisor advocates are breathing easier after the Department of Labor announced Monday that it has pulled its current proposal on the definition of a fiduciary off the table. The agency will take up the issue in early 2012 and repropose a fiduciary definition after more industry input.

A group of regulators and lobbyists speaking at an industry conference this weekend laid out a possible timetable for the implementation of new Dodd-Frank-related regulations affecting financial planners.

The Investment Company Institute hosted the 2011 Tax and Accounting Conference September 11–14 at the JW Marriott Desert Springs in Palm Desert, California. Here are a few of the many people who made it the place the discuss tax, accounting, and regulatory developments. See the photo gallery here.