New Hire Roundup: Mercer Adds Execs
Also, Doug Dachille joined AIG as chief investment officer, while Kent Weaver returned to Glenmede, and J. Keith Morgan joined TIAA-CREF.
Obama Budget’s Retirement Savings Cap Targets Wealthy
The retirement savings cap is a relatively small gambit in the budget’s larger effort to raise revenues but is seen as an attack.
ICI Welcomes New SEC Rules on Funds, Asset Managers
“Any risks that may arise in asset management are best addressed by the SEC,” says ICI's Paul Schott Stevens.
SEC's Blass to Become ICI's General Counsel
David Blass, chief counsel and associate director of the SEC's Division of Trading and Markets, will become the ICI's general counsel in September.
Garrett Brings NY Fed Into FSOC Issues
Rep. Scott Garrett is demanding that the New York Fed share with him any information it provides to the FSOC on nonbank SIFI designations.
House Committee Votes to Block SIFI Designations
The two bills would effectively shutter the FSOC for a year, but analysts give them little chance of becoming law.
House Seeks 6-Month Halt on SIFI Designations
House Financial Services will vote Thursday on a bill that would bar the FSOC from designating any financial institution as systemically significant for six months.
Funds as SIFIs Would Be ‘Too Burdened to Succeed’: ICI Chief
“It would not take much of a "SIFI premium" to increase the fees of these funds significantly,” says ICI's Paul Schott Stevens.
ICI: Too-Big-to-Fail Label Would Hurt Mutual Fund Investors
BlackRock, Fidelity and other U.S. mutual fund companies are pushing back against claims that some firms may be too big to fail.
After MyRA Unveiling, Obama Still Gets Mixed Reviews on Retirement
Attempt to widen retirement account access gets praise, but Obama draws fire for saying savings incentives in the tax code neglect the middle class.