The Securities and Exchange Commission will likely reissue a rule that classifies equity index annuities as securities and subjects them to federal oversight.
The case for the proposed consumer financial protection agency is clear, Treasury Secretary Timothy Geithner told Congress today — but not to Federal Reserve Chairman Ben Bernanke.
The White House proposal to give the Securities and Exchange Commission the authority to ban mandatory-arbitration contracts falls short in looking out for investors' interests, according to attorneys who represent investors in securities disputes.
Ameriprise Financial Services Inc. has agreed to pay $17.3 million to settle charges that it received nearly $31 million in undisclosed compensation for selling its brokerage customers real estate investment trusts between 2000 and 2004, according to the Securities and Exchange Commission.
Financial advisers are troubled by an administration proposal that would allow the Securities and Exchange Commission to ban commissions and take other sweeping actions regarding their fees.
Going beyond their past call for a professional oversight board for financial planners, the Financial Planning Coalition today will ask Congress to bring under one organizational umbrella all advisers who provide financial planning services.
Wall Street's major trade group has declared its support for a new federal fiduciary standard for broker-dealers and investment advisers who provide personalized investment advice.
Securities and Exchange Commission Chairman Mary Schapiro has called on Congress to allow broker-dealers to compete on commissions they charge when they sell mutual fund shares.
Organizations representing investment advisers and consumers today called for Congress to ensure that fiduciary standards are not weakened as financial service regulatory reforms are enacted.
The Securities and Exchange Commission would gain more authority to make rules governing broker compensation under draft legislation sent by the Department of the Treasury to Capitol Hill Friday.
