Regulation

Deutsche Bank’s DWS Investments fund unit is planning to offer the DWS Variable NAV Money Fund, a money market fund with a floating net asset value. It will require a minimum $1 million investment.

Securities and Exchange Commission Chairman Mary Schapiro has named James L. Kroeker as the chief accountant in the SEC's Office of Chief Accountant.

Hedge funds may have to change tactics, notably by cutting their leverage, and adapt to regulations that likely will restrict their investment strategies, according to a recent report about the $2 trillion alternative asset management industry published by Standard & Poor’s.

A former UBS banker who cooperated with the U.S. investigation of the Swiss bank was sentenced to over three years in jail for helping a billionaire real estate developer evade $7.2 million in taxes.

The Securities and Exchange Commission needs to undertake a “comprehensive, independent, zero-based regulatory review” of a broad range of market structure issues before “piecemeal changes to the current market structure” exacerbate potential execution unfairness and make matters worse, says U.S. Sen. Edward E. Kaufman (D-Del.).

QVC officials have reportedly finished their investigation into whether 200 employees falsified documents to try to take hardship withdrawals from their 401(k)s.

While most asset managers have survived the global financial crisis, they still face many uncertainties: internal cost pressures, changes in products, heightened investor demands, headcount reductions, fund closures and tighter regulatory scrutiny.

With a little cooperation, 403(b) retirement plans for educational and governmental workers can move even closer to resembling their 401(k) counterparts, become more streamlined and boost participation, but first, industry participants will need to agree on best practices for the plans that will help everyone speak the same language.

The commissioners and staff at the Securities and Exchange Commission have been working around the clock, looking for ways to refine and improve regulations in the aftermath of one of the worst recessions in history, but this important work takes a delicate touch. Changes to one area could have unexpected ramifications to other areas, and every move must be planned with care and consideration.

Seventy-three percent of Baby Boomers who own a traditional IRA are not planning to convert it to a Roth IRA in 2010, when the previous household income limit of $100,000 will be eliminated, USAA Wealth Management found in a survey. Any investor who converts in 2010 will have two years to pay the taxes.