NEW YORK — Looking to de-fuse a potential time bomb for independent-contractor broker-dealers, the Financial Services Institute Inc. wants the Securities and Exchange Commission to change its privacy rule.
IRVINE, Calif. — NASD is expanding the disciplinary information it discloses about brokers and firms.
WASHINGTON — The battle to help investors globalize their portfolios has received two more weapons.
NEW YORK — Paying attention to such details as retirement plan fees and documentation is a tough sell — especially when small- business owners have businesses to run.
OTTAWA — Combating the concentration of financial muscle among Canada’s Big Six banks, the nation’s financial advisers are showing modest success in their competitive solution — the creation of their own banks.
SAN FRANCISCO — Wachovia Wealth Management missed the mark set by its parent company last year as earnings growth was dampened by investments and growth pains in that division.
NASD has hired a former board member as a consultant, raising questions about conflicts of interest and concerns about how well small firms have been represented in the organization.
Industry leaders eagerly are awaiting a proposal that would allow mutual funds to provide a two-page prospectus in lieu of the lengthy one now required, a concept that could save millions of dollars in costs.
WASHINGTON — House Democrats are hoping to appeal to the middle class with a plan to shift to wealthy taxpayers the responsibility for paying the alternative minimum tax, but financial advisers in general think that it is a bad idea.
NEW YORK — Following the lead of investment banks, money managers are turning to India to hire research analysts at a cheaper price.
NEW YORK — As the May 14 deadline looms for the Securities and Exchange Commission to appeal the overturning of the broker-dealer exemption rule, supporters and opponents of the rule have been busy making their case in the court of public opinion.
NEW YORK — Insurers are launching marketing blitzes to win the investible assets of the wealthy, but many will fail because they don’t understand how rich people think, some consultants say.
OTTAWA — Recent research indicates that those who fear a “hollowing out” of the Canadian economy through foreign takeovers of domestic companies (InvestmentNews, Nov. 6) may have good reason.
BOSTON — Fundamental indexing — touted as a “better mousetrap” alternative to capital-weighted market indexes — won’t necessarily catch more mice, according to Harvard professor Andre Perold.
NEW YORK — Active managers that thrive on volatile markets soon may get their day in the sun. Recent data from Wilshire Associates Inc. in Santa Monica, Calif., show just how long those managers have waited.
NEW YORK — Chinese regulators have begun limiting the amount of money that asset managers can raise during a fund’s launch period, generally to about 10 billion renminbi ($1.3 billion).
OTTAWA — Richard Nesbitt, chief executive of TSX Group Inc., is touring 10 U.S. cities to try to drum up new listings for the Toronto Stock Exchange.
No matter how you are registered and regulated, you can’t afford to turn a blind eye to the breaches of your clients who are fiduciaries — investment committees of retirement plans, foundations and endowments, and trustees of personal trusts.
The end of the broker-dealer exemption rule will create a great opportunity for registered investment advisers to build out their firms, said J. Thomas Bradley, president of TD Ameritrade Institutional, speaking in Chicago today.
