The Ways and Means Committee approved $2.3 trillion in tax hikes to pay for the Biden administration's sweeping social and climate spending plan.
GOP senators assert that the SEC's effort to expand ESG reporting pushes a social policy agenda, while the SEC chair says agency is reacting to investors' demands for more information.
The House Ways and Means proposal does not include taxing unrealized capital gains on inherited assets and the hike it suggests in the capital gains tax rate is not nearly as big as some feared.
Two Democrats joined all Republicans on the panel in opposing the measure, which is designed to expand workplace retirement savings and would impose a tax on businesses that don't set up plans.
The Investment Company Institute says 25 cents per emailed document is excessive and hurts investors. Broadridge, a fintech firm that sends most proxies and other material to fund shareholders, asserts its system reduces costs for investors.
Under the legislation, which could become part of the $3.5 trillion budget bill working its way through Congress, employers that don't offer a retirement plan would have to establish an auto-IRA or 401(k) for their workers.
Even though advisers don’t have to comply with the rule for more than a year, it ranked as the hottest compliance topic, according to a survey; cybersecurity and climate change/ESG were other areas worrying advisers.
In the two decades since 9/11, the financial industry has been preparing for the next terrorist attack, in whatever form it might take.
Even before drawing her first government paycheck, Barbara Roper has influenced how the SEC under Gary Gensler is approaching Regulation Best Interest.
Paige Pierce, chief executive of Bley Investment Group, emphasized updating the Finra rulebook during her campaign. Timothy Sheve, chief executive of Janney Montgomery Scott, and James Crowley, chief executive of Pershing Advisor Solutions, also were elected to the board.
