Regulation

U.S. Senators Jeff Bingaman (D-NM), Johnny Isakson (R-GA) and Herb Kohl (D-WI) have introduced a bill aimed at helping Americans save enough so that they will not be in danger of outliving their retirement savings.

While it may be too late for the Securities and Exchange Commission to pass any new regulations before the end of the year, financial experts anticipate major financial legislation and regulation to occur sometime in early 2010.

A group of Democratic lawmakers has introduced legislation that would impose a tax on Wall Street securities transactions.

The House’s decision to extend the current estate tax rate did not come as a surprise to industry observers, who never believed the government would allow the tax to expire altogether and give up the much needed revenue.

The Eighth Circuit Court of Appeals has reversed the dismissal of Jeremy Braden v. Wal-Mart Stores by the District Court for the Western District of Missouri.

Thirty-eight percent of senior mangers around the world believe the economic crisis will end by the second quarter of next year, Atradius found in a survey of 3,500 executives in North America, Europe, Asia and Australia.

Mutual funds and large institutional investors are being spared from a new Securities and Exchange Commission proposal to reign in the growing use of dark pools to hide trading information, since only trades smaller than $200,000 would be exposed.

At an educational seminar for the asset management industry that law firm Walkers is hosting on Dec. 2 in New York, the focus will be on the key issues facing the industry, restoring investor confidence being the most important one.

OppenheimerFunds decided to settle a lawsuit filed by the state of Oregon over its 529 plan for $20 million, payable to 45,000 investors in the plan early next year.

Three days after saying it would delay the effective date to permit 401(k) plan administrators to offer investment advice, the Department of Labor decided to scrap the rule altogether. The third extension for the effective date would have been May 17, 2010.