Compliance

BOSTON-Mutual fund companies must stay on top of their compliance programs, particularly because Congress is likely to pass new financial regulations, executives warn.

BOSTON-Mutual fund companies must stay on top of their compliance programs, particularly because Congress is likely to pass new financial regulations, executives warn.

BOSTON-Mutual fund companies must stay on top of their compliance programs, particularly because Congress is likely to pass new financial regulations, executives warn.

BOSTON-Mutual fund companies must stay on top of their compliance programs, particularly because Congress is likely to pass new financial regulations, executives warn.

BOSTON -- Mutual fund companies must stay on top of their compliance programs, particularly because Congress is likely to pass new financial regulations, executives warn.

Critics pan plan to limit growth and risk as vague and unworkable

The Depository Trust and Clearing Corp. has enhanced its mutual fund services to include 529 college savings plan information in a streamlined manner for broker/dealers and other financial distributors. New functionality has been added to the transactional hub Fund/SERVE and to network account reconciliation.

Claim SEC Exceeded Its Authority

Federal Deposit Insurance Corp. Chairman Sheila Bair said the FDIC may shelve its use of rating agencies in setting insurance premiums for large banks.

Among the many losers in Massachusetts' special election this week: the Obama administration's bank tax.

With so many investors burned by the across-the-board dismal performance of 2008 and continued volatility into 2009, more are likely to conduct due diligence on hedge funds and exercise greater market discipline, said speakers at a recent conference hosted by Cayman Islands law firm Walkers.

The Supreme Court decided not to review a 401(k) fee lawsuit against Deere and Fidelity that was dismissed by a U.S. District Court in 2007, and again rebuffed a U.S. Court of Appeals a year ago.

Like any public policy, the Obama administration's proposed bank tax will likely yield some unexpected outcomes.

The Managed Funds Association has formed an alliance with the Connecticut Hedge Fund Association whereby the MFA hopes to further unify and strengthen the hedge fund industry.

WASHINGTON — While much of the industry's attention is centered on congressional efforts to revamp financial services, a proposal from the Basel Committee on Banking Supervision also could significantly rewrite the rules of banking.

Industry watchers' description of the plan to charge a 15-basis-point fee on net liabilities ranged from an annoying, yet manageable, cost to a misguided policy.

With it increasingly likely that a bipartisan reform bill in the Senate would not include an independent, powerful Consumer Financial Protection Agency, lawmakers are exploring alternatives.

After spending the second half of last year exchanging its long-term expansion plans for extra capital, Boston Private Financial Holdings Inc. announced it received approval from the Treasury Department to begin repaying the $154 million in outstanding Series C preferred stock that was issued to the Treasury as part of its Capital Purchase Program.

Tarp, TLGP recipients to pay 15 basis point fee

WASHINGTON — House Financial Services Committee Chairman Barney Frank laid out his near-term agenda Wednesday, including a Jan. 22 hearing on executive compensation at financial companies and a Feb. 3 hearing on why banks are not lending more.