Regulation

Property/casualty insurers are objecting to provisions contained within regulatory reform legislation authored by Senate Banking Committee Chairman Christopher Dodd.

The 13 to 10 vote was unusually quick and followed no substantive discussion of the bill, with Republicans opting not to offer any of the more than 100 amendments they had filed with the panel.

PHOENIX -- The money market fund industry and the Investment Company Institute are dead-set against a floating net asset value.

The Securities and Exchange Commission is promising to take another look at revising or eliminating 12b-1 fees this year, now that the financial crisis seems to be abating.

Market Players Push for Changes

Senate Banking Committee Chairman Chris Dodd's regulatory reform bill is generally winning praise for provisions giving the government more power to smoothly unwind a large, systemically important firm, but is also raising a host of practical concerns observers say could undermine its effectiveness.

Although the Pension Protection Act of 2006 has gone a long way toward addressing many of the issues plaguing the defined contribution system, a report from State Street Corp. said that more has to be done to ensure participants adequately save for retirement.

The House Financial Services Committee plans to probe the regulatory failures that led up to the collapse of Lehman Brothers after a bankruptcy examiner released a damning report last week on the investment bank’s accounting manipulations.

SIFMA and CMSA back Garrett's follow-up bill

Sen. Richard Shelby raised concerns with bankers on Thursday that "too big to fail" would survive if a proposed $50 billion fund to help unwind failing financial institutions remains in the Senate's latest regulatory reform bill.