Federal revenue losses due to tax breaks for retirement savings plans are being greatly exaggerated, according to a group that is urging Congress not to eliminate so-called retirement tax expenditures
When Malcolm Gissen explores a potential investment, sometimes an ambulance accompanies him
New regulations aimed at ending the cozy relationship between government and those who advise the government on investment matters sound good on first blush. But as firms have discovered, the devil's in the details.
Although Capitol Hill Republicans have received the most attention for trying to halt work on fiduciary duty regulations, Democrats have also expressed skepticism over the issue.
Advocates for imposing a universal fiduciary duty on anyone providing retail investment advice are stepping up their campaign to urge the SEC to move forward with a rule
One of the strongest advocates for imposing a universal fiduciary duty for retail investment advice is urging a congressional committee to allow the Securities and Exchange Commission to move forward with such a rule.
As per a Senate Republican request, SEC Chairman Mary Schapiro says the commission is analyzing the economic impact of adopting a single standard of care. Such cost-benefit analysis could be the way GOP lawmakers gut a universal fiduciary code.
Even though the conventional wisdom in Washington is that Congress won't get around to major tax reform until after the presidential election, financial and insurance companies, and adviser groups are working feverishly to build the foundation for that policy battle
But industry participants disagree over which regulator should get the gig; protracted debate expected
As House Republicans begin to move legislation this week that would roll back parts of the Dodd-Frank financial reform law, a prominent Senate Democrat indicated today that he will fight efforts to scuttle or delay implementation.
