House Republicans have introduced a bill that would repeal the AMT with an optional “simplified tax.”
The private-equity tax hike will not go gentle into that good night, according to published reports.
Securities and Exchange Commission officials are drafting a document that defines suitability as it relates to the sale of securities. “The document is an extensive and comprehensive view of securities and case law in this area,” including some useful examples, Erik Sirri, director of market regulation, said at the SEC’s second annual Seniors Summit.
With a recently passed law, the Department of Defense has declared war on bogus financial advisers.
This week, after a long battle with the SEC, former American Stock Exchange chairman and chief executive Salvatore F. Sodano consented to SEC findings that he failed to supervise the exchange's oversight of its order-handling and record-keeping rules from 1999 through June 2004.
As regulators and Congress scrutinize the proliferation of financial advisory designations aimed at bilking elderly investors, the organization that grants the certified financial planner credential is investigating whether its name is being improperly used by groups that promote bogus certifications.
Pension funds would be adversely affected if taxes on private-equity were raised, said witnesses.
Senate hearings on taxing-carried interest begin tomorrow, but reports predicting its impact are out now.
IRVINE, Calif. — Critics of the industry arbitration system want the Financial Industry Regulatory Authority to require that “public” arbitrators have no ties to the industry. In a rule awaiting approval at the Securities and Exchange Commission, New York- and Washington-based FINRA has proposed limiting to $50,000 a year the amount of revenue a public arbitrator could receive from brokerage firms for handling customer disputes.
Senate Finance Committee leaders are working on a plan to resurrect legislation to cap deferred compensation, which they could reintroduce next month as part of a bill that would extend popular education tax breaks.
Some financial advisers fear that a proposal backed by the Financial Planning Association that would allow brokers to make principal trades in their fee-based accounts would result in a new loophole that brokers can use to skirt investment adviser regulations.
IRVINE, Calif. — State regulators are seeking reinforcements. In a speech this month at the annual meeting of the National Conference of State Legislatures, Joseph Borg, president of the North American Securities Administrators Association Inc., called for the NCSL to develop a more detailed policy statement opposing federal pre-emption of state securities laws.
Proposed IRS regulations that affect trusts and estates would carry with them a host of ills — including more trust fees for beneficiaries, additional work for financial advisers and increased client exposure to the alternative minimum tax — advisers and industry experts say.
WASHINGTON — Estate planning lawyers are increasingly worried that Congress may not act on estate tax reform before the estate tax repeal expires at the end of 2010.
As the first anniversary of the Pension Protection Act approaches, financial advisers remain wary of target date mutual funds.
It’s FINRA, and it’s final. But the name of the self-regulatory organization formed by the consolidation of NASD’s and the New York Stock Exchange’s regulatory units is drawing a new wave of criticism.
IRVINE, Calif. — The Wealth Advisor Institute is calling for reform of the broker-termination-reporting process.
The SEC approved a new accounting standard that would lower costs on Sarbanes-Oxley compliance.
A bill that would increase 401(k) disclosure should be put on hold, according to the American Benefits Council.
The first bipartisan House version of the National Insurance Act of 2007 was reintroduced today.
