Law and regulation

Goldman’s settlement with the U.S. government comforted some Wall Street analysts who track the bank on Friday and news of the settlement spurred at least one of them to change their outlook on the company.

The DOL issued an interim final rule on 401(k) plan fee disclosure early Thursday.

The Securities and Exchange Commission said Thursday that Goldman Sachs agreed to pay $550 million and reform its business practices to settle charges that the securities firm misled investors in a subprime mortgage product

Although the Senate finally voted Thursday to send regulatory reform to the president's desk, policy circles are already abuzz about what changes to seek in a "corrections" bill to fix problems with the legislation.

The Senate voted 60 to 39 this afternoon to approve sweeping changes to the financial regulatory system designed to address the causes of the 2008 financial crisis.

Fund managers could end up finding out about corporate agendas far sooner and disclosing far more about their voting activities if some of the Securities and Exchange Commission’s proposed changes to the proxy system eventually become effective.

If your clients are confused on the current process, it sounds like the communication between you and them could do with some improvement too.

Sens. Blanche Lincoln, D-Ark., and Jon Kyl, R-Ariz., have introduced a proposal to reform the federal estate tax, which temporarily expired this year but is slated to increase to up to 55 percent next year for estates over $1 million.

The reform bill, which the Senate could pass tomorrow, would give the central bank expansive new powers, but also heaps additional responsibilities on it.

In its long-awaited concept release on the proxy “plumbing” process, the Securities and Exchange Commission on Wednesday sought public comment on making changes to the proxy voting and distribution system but fell far short of advocating any major overhaul.

Joan McKown, who has worked for the SEC since 1986, plans to join Washington-based law firm Jones Day.

FINRA plans to significantly expand the information it provides via its free online tool, BrokerCheck, in the coming months.

Barring any unforeseen upheavals, Democrats have the assurances they need to secure the 60 votes needed for Senate passage of the Dodd-Frank bill.

Charles Boucher is leaving his post as chief information officer of the Securities and Exchange Commission, after 19 months.

Securities and Exchange Commission Chairman Mary Schapiro said in a speech on Friday that she personally backs a blanket fiduciary standard for advisors.

Bankers may never be considered Boy Scouts on compensation, but in terms of the executive pay provisions in the financial reform bill, they certainly are prepared.

The Securities and Exchange Commission has suspended a CPA who was the former senior treasury manager and assistant treasurer at Peregrine Systems, a California enterprise management software company that was charged in 2003 with massive financial fraud.

Passing regulatory reform legislation, a grueling effort that has taken more than a year of debate, is just a warm-up for an even tougher fight over the future of Fannie Mae and Freddie Mac.

The Securities and Exchange Commission said on Wednesday that it will hold an open meeting on July 14 to consider whether to issue a concept release on proxy reform.

State Street Corp. has sued three of its former executives for creating a new rival in securities lending.