It appears the SEC will be sorting through its mail for some time.
The commission launched its study of fiduciary requirements amid fanfare and a flood of public input. But the GAO is quietly examining the regulation of the entire financial planning industry.
Regardless of which party is in control of Capitol Hill after the November elections, retirement issues are sure to rise to near the top of the congressional agenda.
Delaying until 2011 might save money, consternation; blueprint for transition not exactly 'etched in stone'
More than half of investors are confused about who has fiduciary duty when providing financial advice, while more than 90% want fiduciary rules to apply to brokers and insurance agents, according to a survey released Wednesday.
It is usually very quiet in Washington in August. But over at the SEC, the late-summer calm has given way to a din as lobbyists battle over the standard of care for investors.
On her way out the door, the top White House economist dismissed the notion that American corporations are sitting on nearly $2 trillion of cash because they're wary of how major new laws — and some policies currently under consideration — will affect their businesses.
Lawmakers have given the SEC twelve months to perform a slew of studies and propose scores of rule changes. Can it meet the deadlines? Probably, if the agency's plumped-up budget gets approved by Congress-- and soon. That's a big if.
