Bloomberg

Bloomberg
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RETIREMENT RETIREMENT PLANNING JUN 11, 2007
ETF giant launches 401(k) plan invasion

PHILADELPHIA — With help from Barclays Global Investors, a California 401(k) record keeper has created a new platform intended to break the mutual fund stranglehold on the 401(k) market.

NEWS INDUSTRY NEWS JUN 11, 2007
Tax on income trusts is likely here to stay

OTTAWA — The House of Commons Finance Committee has voted down a measure that would have provided for a 10-year delay in taxing companies with an income trust structure.

NEWS REGULATION AND LEGISLATION JUN 11, 2007
Firms look to profit from end of broker-dealer rule

NEW YORK — Companies that provide training and manufacture software aimed at investment advisers expect to cash in on the recent demise of the broker-dealer exemption rule.

INVESTING MUTUAL FUNDS JUN 11, 2007
Vanguard bonus increase may hit 11-year high

BOSTON — Thanks to a banner year on Wall Street, the 2006 bonus increase for employees at The Vanguard Group Inc. could be the biggest in more than a decade.

INVESTING ETFS JUN 11, 2007
New exchange traded note tracks covered calls

PHILADELPHIA — In a further sign of how exchange traded products are chasing more exotic strategies, Barclays Bank PLC of London has unveiled an exchange traded note that provides investors with exposure to a covered-call-writing strategy.

INVESTING MUTUAL FUNDS JUN 11, 2007
Congress seeks comment on cost basis reporting

WASHINGTON — The Senate Finance Committee has taken the unusual step of asking for public comment on a legislative proposal for a bill that would require brokers and mutual funds to report the cost bases of their customers’ securities transactions.

NEWS INDUSTRY NEWS JUN 11, 2007
Affluent feel secure, but many lack an adviser

NEW YORK — Although most millionaires feel that their wealth is “extremely secure,” many still have not found the kind of financial advice that suits their needs. According to the annual wealth survey by The Phoenix Cos. Inc. of Hartford, Conn., 34% of millionaires young and old lacked a primary financial adviser.

NEWS INDUSTRY NEWS JUN 11, 2007
Elderly more open to selling life policies

CHICAGO — To add reserves to their retirement nest egg, more elderly people are considering the sale of existing life insurance policies, financial advisers say.

NEWS REGULATION AND LEGISLATION JUN 11, 2007
NASD opts to maintain its OSJ definition

IRVINE, Calif. — NASD has dropped a controversial proposal to revamp its branch office definitions.

NEWS BROKER DEALERS JUN 08, 2007
A.G. Edwards reps await retention package

Wachovia Corp. is putting the finishing touches on its retention package for brokers with A.G. Edwards.