Regulation And Legislation

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Killing estate tax gathers 'mo on Capitol Hill
NEWS REGULATION AND LEGISLATION APR 24, 2012
Killing estate tax gathers 'mo on Capitol Hill

Supporters of a bill that would eliminate the estate tax are touting the fact that the legislation has attracted more than 200 House sponsors. But for now, this measure serves mostly as a Republican political statement. Democrats are making their own noise with tax bills that probably won't go anywere this year.

Ex-head of real estate trade group said she bilked investors
NEWS REGULATION AND LEGISLATION APR 24, 2012
Ex-head of real estate trade group said she bilked investors

Renee Marie Brown faces 20 years in prison for hawking bogus bond fund

Former LPL rep sold TICs with 'tricks': Lawyer
NEWS BROKER DEALERS APR 24, 2012
Former LPL rep sold TICs with 'tricks': Lawyer

Elderly couple awarded $1.4M for claim over tenant-in-common exchanges; were seeking $8M

NEWS LIFE INSURANCE AND ANNUITIES APR 23, 2012
Lincoln National ordered to make good on insurance in heated Stoli case

Judge finds for claimant in $5 million stoli benefits payment from Lincoln National Life

Pru will pay $17M to settle with seven states over death benefits
NEWS LIFE INSURANCE AND ANNUITIES APR 23, 2012
Pru will pay $17M to settle with seven states over death benefits

Prudential Financial Will pay $17 million to settle with seven states; regulators claim insurer used more comprehensive database for cutting off annuity payments than one used to locate those owed money.

Prudential settles with 20 states over unclaimed death benefits
NEWS REGULATION AND LEGISLATION APR 23, 2012
Prudential settles with 20 states over unclaimed death benefits

Agreement requires insurer to step up cross referencing to locate unpaid beneficiaries

NEWS RETIREMENT PLANNING APR 23, 2012
LTCI too pricey even for Uncle Sam as CLASS Act yanked

Executives at life insurance companies can breathe a sigh of relief now that the proposed federal long-term-care insurance program — the CLASS Act — has been killed

NEWS MUTUAL FUNDS APR 20, 2012
SEC beware, money funds can bring system down

Failure to reform money-market funds would be a mistake: Economist panel

Republicans 'cost-benefiting' Dodd-Frank into the ground
NEWS REGULATION AND LEGISLATION APR 20, 2012
Republicans 'cost-benefiting' Dodd-Frank into the ground

GOP relying more on financial analysis than legislation to slow industry reform

NEWS REGULATION AND LEGISLATION APR 18, 2012
Hall of Fame coach faked out players in $80 million Ponzi scheme: SEC

Donnan and partner convinced coaches, ex-players to invest in merchandise scheme, commission claims; worked as college football analyst for ESPN

Vanguard's point man in Washington: Uncertainty abounds on tax policy
NEWS REGULATION AND LEGISLATION APR 17, 2012
Vanguard's point man in Washington: Uncertainty abounds on tax policy

Delaplane tells advisers he's not optimistic that 'grown-ups' will prevail on Capitol Hill

Market volatility? Don't blame ETFs, says ICI
NEWS ETFS APR 17, 2012
Market volatility? Don't blame ETFs, says ICI

New research from industry groups shows that macroeconomic events are more to blame for volatility than exchange-traded funds

ASPPA, record keepers ask DOL for extension on plan fee disclosure
NEWS RETIREMENT PLANNING APR 17, 2012
ASPPA, record keepers ask DOL for extension on plan fee disclosure

The American Society of Pension Professionals and Actuaries and its sister organization The Council of Independent 401(k) Recordkeepers have asked the Labor Department for more time to meet enhanced fee disclosure requirements.

ASPPA to Congress: 'Hands off our tax breaks'
NEWS RETIREMENT PLANNING APR 17, 2012
ASPPA to Congress: 'Hands off our tax breaks'

Group storms Capitol Hill to protect retirement savings vehicles

Goldman Sachs to pay $22M to settle analyst huddle claims
NEWS REGULATION AND LEGISLATION APR 16, 2012
Goldman Sachs to pay $22M to settle analyst huddle claims

Goldman Sachs failed to implement policies to keep its stock analysts from tipping select clients about upcoming research changes, SEC says.

Bankers Life settles charges it ran unlicensed B-D operations
NEWS LIFE INSURANCE AND ANNUITIES APR 16, 2012
Bankers Life settles charges it ran unlicensed B-D operations

Insurer to pay nearly $10M to close case; states claim carrier had commission arrangement with Uvest, ProEquities

Pacific West Securities ordered to pony up $2.1M over TICs
NEWS REGULATION AND LEGISLATION APR 16, 2012
Pacific West Securities ordered to pony up $2.1M over TICs

A Finra arbitration panel has awarded a couple $2.1M over unsuitable tenant-in-common exchange investments

FSI to hike fees dramatically
NEWS BROKER DEALERS APR 16, 2012
FSI to hike fees dramatically

The Financial Services Institute Inc. is planning to finance its beefed-up lobbying efforts with big dues increases to its broker-dealer member firms.

Gundlach's fast-growing startup sees nearly $6B in inflows in a year
NEWS MUTUAL FUNDS APR 16, 2012
Gundlach's fast-growing startup sees nearly $6B in inflows in a year

Despite months of legal wrangling with his former employer, TCW Group Inc., it appears that Jeffrey Gundlach's move to start his own firm is paying off

Buffett Rule, estate tax proposal have one thing in common
NEWS REGULATION AND LEGISLATION APR 13, 2012
Buffett Rule, estate tax proposal have one thing in common

Both legislative actions designed to make a point — not to make it into law