Money managers are fighting legislation that would — for the first time — subject the roughly 4,000 firms associated with broker-dealers to regulation by the Financial Industry Regulatory Authority.
The SEC today announced that it is seeking additional public comment on an alternative proposed uptick rule that would allow short selling “only at an increment above the national best bid,” according to a commission news release.
Concerns that a new consumer watchdog agency proposed by the Obama administration could play a role in overseeing retirement plan products are unfounded, Rep. Barney Frank, D-Mass., said today at a press conference on Capitol Hill.
Fidelity Investments had the most internally managed active-domestic-equity assets for U.S. institutional tax-exempt assets clients last year.
