New $1-million initiative, financed by operating funds, complements public awareness effort.
Regulation of investment advisers likely to be low on Hensarling's list.
Proposals, bills cobbled together on fly with little time for review
One of the features of the fiscal-cliff bill approved last week by Congress was that it supposedly settled the question of marginal tax rates for good. It delivered the permanence to the vast majority of Bush tax cuts that investment advisers and their clients have long sought. But a little more than 36 hours after the measure passed, Congress demonstrated it will always tinker with the tax code.
Investment advisers stopped legislation last year that would establish a self-regulatory organization to oversee them by making their presence felt on Capitol Hill. They're keeping it up this year.
New Year's Eve legislation that averted trillions of dollars of automatic tax increases and spending cuts was brimming with provisions that permanently extended many Bush administration tax cuts. What was missing, however, was language that provided direction on comprehensive tax reform. All kinds of ideas are filling the void.
Many observers think newly designated SEC chair Elisse Walter will be a lame-duck boss. They may be wrong. <a href=http://www.investmentnews.com/article/20121127/FREE/121129970>Dwyer: Krawcheck, please</a> &raquo;
