The Securities and Exchange Commission would be expected to define a fiduciary standard that would be applied to brokers and investment advisers, according to draft legislation released this afternoon by House Capital Markets Subcommittee Chairman Paul Kanjorski, (D-Penn.).
An Austin, Texas-based investment adviser has been charged with defrauding investors in a scheme that used former National Football League players to promote offerings in an insurance company.
State securities regulators today reported a drop in deficiencies in their latest inspections of investment advisers.
Same market, different outcome.
Congress is not likely to permit the IRS to lower employee 401(k) contribution limits, even if inflation continues to decline, said a leading House Democrat.
With tax reform high on the administration's agenda for next year, the life insurance industry is pushing for preferential treatment for annuities.
The chief lobbying official for the Financial Planning Association is stepping down this month.
The Securities and Exchange Commission hasn't provided enough proof to support its own proposal to ban second-tier securities from money market funds, the Consumer Federation of America and Fund Democracy Inc. said last week in a comment letter.
Sen. Charles Schumer's plan to allow the Securities and Exchange Commission to keep the fines it levies is drawing fire for creating a possible conflict of interest for the agency.
The Department of the Treasury today recommended a change in how the cap on contributions to Section 529 college savings plans is set.
