The SEC must be expecting a whole lot of opinions on whether the agency should revamp the fiduciary standard: the regulator is supersizing its comment period to cope with what's coming
Congress is poised to boost significantly funding for the Securities and Exchange Commission so that the agency can fulfill scores of new financial-regulatory-reform responsibilities.
Securities and Exchange Commission Chairman Mary Schapiro told a congressional panel last Tuesday that the SEC is poised to take on the scores of directives mandated by the financial-reform bill that President Barack Obama signed into law on Wednesday.
Nearly two-thirds of those surveyed said they believe the economy will improve but are more worried than they were at the beginning of the financial meltdown.
Financial advisers to some private-equity funds fear that efforts to reduce systemic risk in the financial markets, a key theme of the massive reform bill signed into law last week, are unfairly targeting them.
The sweeping financial-regulatory-reform legislation that President Barack Obama will sign this week represents anything but closure for Wall Street.
In signing off last Friday on the most sweeping overhaul of financial regulation since the Great Depression, congressional negotiators took a major step toward empowering the SEC to decide whether stockbrokers should be more accountable to individual investors.
House and Senate negotiators agreed to include the stronger House provision on fiduciary duty in the sweeping financial regulatory reform bill. <a href=http://www.investmentnews.com/article/20100625/FREE/100629931><b>(Get the rundown on the full reform, and how advisers and planners will be impacted.)</b></a>
Congressional committee approval late last week of an amendment to the financial-reform bill maintaining state regulation of equity-indexed annuities drew mixed reaction, with insurers cheering the action and advisers largely opposing it.
