Brave New (Client) World
While many advisors are growing their businesses today, they risk missing out on tomorrow’s growth by neglecting audiences beyond the traditional affluent white male client.
Financial Planners Waste No Time After DOMA Ruling
Hart Patterson Financial Services began calling clients immediately following the Supreme Court’s decision on gay marriage.
SEC, FINRA Enforcement: StateTrust Investments Fined for Corporate Bond Fraud
Among recent enforcement actions, FINRA ordered StateTrust Investments to pay more than $1.3 million for excessive markups and markdowns in corporate bond transactions.
Taxes and the End of DOMA: Married in the Eyes of the IRS
The Supreme Court ruling represents a big win (tax-wise) for same-sex couples. High income same-sex clients, however, need to be prepared for the reality that their tax bills might be going up this year.
High Court Bolsters Gay Marriage, but Financial Planning Hurdles Remain
While financial planning for same-sex married couples just got easier with the Supreme Court’s overturning of the Defense of Marriage Act on Wednesday, advisors and attorneys say lots of same-sex financial planning issues remain unresolved.
Court Upholds CFTC Commodity Pool Rule; Rejects ICI Appeal
A federal appeals court on Tuesday upheld new CFTC rules that will require many investment companies to register as commodity pools.
Supreme Court Backs Mandatory Arbitration; NASAA Calls for Action
After the decision, which backed American Express' right to bar class-action suits, Congress must "restore some vestige of consumer protection," NASAA's Heath Abshure said.
Sen. Franken Urges SEC to Ban ‘Unfair’ Arbitration Agreements
Sen. Al Franken, D-Minn., told SEC Chairwoman Mary Jo White in a Tuesday letter to act now to prevent Wall Street brokerage firms from forcing investors into “unfair” arbitration agreements.
Stolid Switzerland’s Different Path
Both the U.S. and Switzerland are pulling out of the post-2008 global economic slump on the wave of speculative bubbles. But while Washington is stoking its bubble, hoping for faster growth, the Swiss are working to prevent theirs from getting out of hand.
Obama’s Associate Counsel Small Named SEC General Counsel
The SEC announced Tuesday that Anne Small, President Obama’s special assistant and associate counsel, has been named general counsel of the agency.