Lawmakers Grill DOL’s Solis on Fiduciary Duty Redraft
At a House hearing, lawmakers took Labor Secretary Hilda Solis to task Wednesday over how the DOL’s recrafting of its fiduciary rule is progressing—specifically on the timing of the re-proposed rule and the rule’s inclusion of IRAs.
SEC’s Schapiro Opposes Stopping Money Market Reforms
Despite the deluge of comments opposing the SEC’s plans to soon issue a rule to further reform money market funds, SEC Chairman Mary Schapiro insisted Thursday that the funds still have “structural flaws” that must be addressed.
DOL ‘Disappointed’ With Industry Input on Fiduciary IRA Request
The Department of Labor’s EBSA says it is “disappointed” that industry trade groups could not provide more data by the Feb. 24 deadline, and it's "bewildered" that the data underlying the Oliver Wyman report is "not forthcoming."
SIFMA Says Volcker Rule Threatens to Freeze Corporate Bond Market
SIFMA says that an overly restrictive implementation of the Volcker rule could severely reduce liquidity in the $1 trillion U.S. corporate bond market.
Long-Term Investing Paradox: World Economic Forum Report
A World Economic Forum Report says while the need for long-term capital is rising, the ‘ability to make long-term investments is diminishing.’
Advisory Industry: SIFMA Fiduciary Study Raises Lots of Questions
The advisory industry is taking issue with a new study commissioned by SIFMA that says retail investors will be harmed if the uniform fiduciary standard that the SEC is currently creating does not recognize different business models.
SIFMA Report: Retail Investors Would Lose Under a Uniform Fiduciary Standard
SIFMA study: Retail investors would experience "reduced product and service availability and higher costs" under a uniform standard "that does not appropriately recognize the important distinctions among business models."
Insurers ditch actively managed funds
Insurers aren't just getting mad, they're getting even. Performance guarantees attached to variable annuities forced them to take a hit when the stock market started...
Adding Guaranteed Income to a QDIA
While the introduction of Qualified Default Investment Alternatives (QDIA) to defined contribution plans has enabled sponsors to help participants accumulate retirement savings, a new study released by Richmond, Virginia-based Genworth Financial during the company's 2008 Retirement Symposium in May has revealed that adding guaranteed income to a QDIA offers even...