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NEWS WIREHOUSES MAY 29, 2007
Big firms to D.C. Circuit: Give us a break, please

IRVINE, Calif. — The major sponsors of fee-based brokerage accounts claim they will need six months to a year to transition clients out of the accounts.

NEWS REGULATION AND LEGISLATION MAY 29, 2007
Congress hints at regulating private equity

WASHINGTON — Unions are hoping that pressure from Congress on private-equity funds will lead to better pay and benefits for workers, including more unionization.

NEWS BROKER DEALERS MAY 29, 2007
NPC’s new CEO aims to fill void in recruiting

Inheriting a depleted recruiting staff, the new head of National Planning Corp. immediately will focus on rebuilding that team. Last Monday, Santa Monica, Calif.-based NPC said that Scott Romine was replacing M. Shawn Dreffein as its CEO.

INVESTING MUTUAL FUNDS MAY 29, 2007
Presto! SEC loses another battle Cookware maker

WASHINGTON — The Securities and Exchange Commission is on a roll in the courts — but not a good one.

NEWS INDUSTRY NEWS MAY 29, 2007
Net sales of 529 plans reach all-time high

The Section 529 college savings plan industry is on a roll. Net sales of 529 plans rose to an all-time high of $5.2 billion during the first quarter of 2007, according to the most recent data available from Boston-based Financial Research Corp.

INVESTING MUTUAL FUNDS MAY 29, 2007
RiverSource aims to improve image

RiverSource Funds — formerly American Express Funds — ranked as last year’s third-best-performing mutual fund group by one measure and now is waging a battle to improve its image and reverse investor outflows by sometime next year.

INVESTING ETFS MAY 29, 2007
Slim pickings for Russell 2000 arbitrageurs

Arbitrageurs looking to profit from the annual reconstitution of the small-cap Russell 2000 Index next month will have a more difficult time of it this year, according to some industry experts.

RETIREMENT LIFE INSURANCE AND ANNUITIES MAY 29, 2007
Advisers bristle at race-based assignments

Many advisers do not want to be assigned clients or territories based on their race, national origin or other personal traits — but they are comfortable with relationships that evolve naturally from those factors.

NEWS BROKER DEALERS MAY 29, 2007
Ameriprise looks to lure talent from rivals

Ameriprise Financial Services Inc. says that it is finally ready to execute its long-discussed strategy to recruit registered representatives and advisers from rival firms.

INVESTING ETFS MAY 29, 2007
First Trust places a wager on the alpha craze

PHILADELPHIA — First Trust Advisors LP is betting that investors will want exchange traded funds that seek alpha.