Regulation

President-elect Barack Obama has named regulatory veteran Mary Schapiro to lead the Securities and Exchange Commission after he takes office next month.

Fidelity Investments has been taking advantage of new changes to 403(b) regulations to expand its presence in the higher education retirement business, adding more than 50 new plans this year.

The U.S. could see a 70% decline in the number of mutual fund families over the next five years unless regulations are changed to put them on a more equal footing with hedge funds, according to a new report by the Boston research firm Celent, titled: “The Global Credit Crisis: Implications for North American Wealth Management.”

In a final year-end push, the Securities and Exchange Commission voted 4-1 Wednesday to require mutual funds and the top 500 largest public companies to begin filing financial reports using eXtensible Business Reporting Language (XBRL).

By overturning a lower court's dismissal of a case against former Columbia Funds executives James Tambone and Robert Hussey, the U.S. Court of Appeals for the First Circuit is permitting the Securities and Exchange Commission to proceed with its market-timing lawsuit against the two men.

Ready or not, the deadline to update 403(b) plans is here.

Financial industry analysts are anticipating a wave of new regulations to come out of this financial crisis, but with any luck, mutual funds will escape a direct hit.

The Securities and Exchange Commission on Thursday fined eight former Fidelity traders $1.04 million for accepting lavish gifts from brokers, not least of which included trips on private jets and courtside sports tickets.

Mark-to-market accounting has merit, but financial institutions need better clarity on its application for very distressed assets, Securities and Exchange Commission Chairman Christopher Cox said.

By overturning a lower court’s dismissal of a case against former Columbia Funds executives James Tambone and Robert Hussey, the U.S. Court of Appeals for the First Circuit is permitting the Securities and Exchange Commission to proceed with its market-timing lawsuit against the two men.