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The Internal Revenue Service’s initiative to determine whether municipal bonds are being initially offered at prices that fail to comply with tax requirements has left issuers upset and confused about the definition of issue price and what specific abuses the IRS is looking for.

Lawmakers show deep interest in staying involved with 'Volcker Rule' during the implementation phase and regulators may actually be grateful.

With performance under par, hedge fund managers got smaller year-end bonuses for 2011, according to the Hedge Fund Compensation Report.

A date is set for the exchange-traded equivalent of the world's largest mutual fund to get going.

iWASHINGTON — In technical terms, Congress handed regulators the baton a while ago to implement a crackdown on proprietary trading. But as the federal agencies grapple with turning the so-called Volcker Rule into regulation, the process seems almost like a joint effort between two branches of government.

Drum roll, please.

The Dow Jones Industrial Average closed up 70 points to 12,462.47 Tuesday, the fourth positive session in six trading days so far this year. Tech stocks also perked up as the Nasdaq rallied up 26 points to finish at 2,702.50.

NYSE Euronext said it had not been notified by the European Commission of any “official decision” on its merger with Deutsche Boerse, after a pair of media reports that the nearly year-old deal will not be approved on anti-competition grounds.

Raymond James has named a former Goldman Sachs Investment Management vice president to the new position of director of retirement solutions.

With performance under par, hedge fund managers got smaller year-end bonuses for 2011, according to the Hedge Fund Compensation Report, released Tuesday.

When it comes to bond funds — or any mutual funds — past performance is not the best way to analyze them. Instead, S&P Capital IQ Analyst Todd Rosenbluth suggests investors should consider the credit risk of the underlying bonds, as well as a fund’s duration, i.e. price sensitivity to changes in interest rates.

Wedbush Securities has launched a new social media initiative for financial advisors, investment bankers and equity traders that encourages them to use Twitter, LinkedIn and Facebook to boost their respective books of business.

Morgan Stanley Smith Barney and Morgan Stanley Private Wealth Management have hauled in a total of 11 new advisors from competing firms including UBS, Oppenheimer, Wells Fargo and Merrill Lynch.

Zephyr Associates, a financial analytics software provider to financial advisors, is seeing a steady increase in the percentage of RIA firms among its clients.

PrimeVest Financial, one of the big third-party marketers in the bank channel, launched a website designed to help banks and credit unions staff up their advisory programs. It also will help individual advisors search for new career opportunities across the country.

The fund invests at least 80% of the value of its net assets in a diverse equity portfolio, with a focus on larger companies with market capitalizations equal to or more than $1 billion.

PIMCO is continuing to build out its active equities platform with the launch of two new funds: the Dividend and Income Builder Fund and the EqS Dividend Fund.

PIMCO is continuing to build out its active equities platform with the launch of two new funds: the Dividend and Income Builder fund and the EqS Dividend fund.

While all eyes were on Bank of America’s stock price last year, the Bank of America Merrill Lynch retirement and employee financial benefit plan businesses quietly thrived by pulling in $19 billion in new financial benefit plan assets.

NYSE Euronext said the volume of trading in stocks it handles in the United States fell 10.6% in December.