Don't blame state regulators for the financial crisis; blame those who took power away from state regulators.
Participants in 401(k) plans do not want the government to require them to convert a portion of their 401(k) assets to annuities, according to the results of a survey of about 3,000 households released today by the Investment Company Institute.
Encouraging employers to offer annuities in pension plans will be one of the Labor Department's top regulatory goals in 2010.
The Securities and Exchange Commission will reassess the 12(b)-1 fees collected by brokers as compensation for selling and servicing mutual funds, SEC Chairman Mary Schapiro said today.
Eight U.S. senators want Congress to oppose International Money Fund and World Bank loans to the government of Antigua and Barbuda until that government compensates victims of Stanford Financial Group. Stanford International Bank was located in Antigua.
Legislation that would require that all fees be disclosed to 401(k) plan participants in simplified form is needed, most of the panelists at a hearing on the legislation today testified.
Faced with the prospect of gaining jurisdiction over 4,200 registered investment advisory firms, state regulators are scrambling to make sure they have the resources to handle a handoff.
State securities regulators are gaining ground in their battle to regain authority to oversee private-placement offerings.
Sen. Tim Johnson, D-S.D., is circulating legislative language that would delete a requirement that brokers acting as advisers be registered investment advisers.
Senate Banking Committee Chairman Christopher Dodd, D-Conn., said today he will work with Sen. Bob Corker, R-Tenn., a member of the Banking Committee, to write a new draft of the financial-services reform legislation the committee has been considering.
