Financial Crisis’s Pricetag Could Top $10 Trillion: GAO
Losses incurred by the financial crisis of 2007-'09 could exceed $10 trillion, and the effects could linger for years to come, according to a just-released report by the Government Accountability Office.
After Obama Victory, How the New Government Is Shaping Up for Advisors: Updated
Some notable newcomers—Elizabeth Warren, for one—join Congress, which remains divided between the two parties as fiscal cliff, tax issues come to fore of national agenda. FPA and FSI's leaders and lobbyists weigh in on what's next.
The Election and Advisors: FPA’s Dan Barry Reports, and Predicts
Looking at next year’s advocacy agenda for FPA, much depends on the election and who is placed in key positions. A rundown of the big issues for planners, and what different election scenarios mean for those issues.
How the Election Will Shape Regulatory Policies for Advisors
The president appoints the people who will make the most important decisions on regulatory policy that affect your profession. First up on our list of potential changes: Treasury.
11 Key Congressional Committees for Advisors to Worry About
As the election approaches, not just the White House and Congress are in play, but also control of congressional committees important to advisors and others in the financial services sector.
CFPB Rolls Out Financial Aid Shopping Sheet as Student Debt Tops $1 Trillion
As outstanding student loan debt has surpassed the debt consumers hold in credit cards and car loans, the CFPB has just completed a form colleges can use to break down costs and payment options.
Q2 Earnings Kickoff: JPMorgan Down, Wells Fargo Up and Markets Heave Sigh of Relief
Friday the 13th was lucky for JPMorgan and Wells Fargo as both banks’ stocks rose higher despite dark news that preceded their Q2 earnings reports.
SEC’s Schapiro: Money-Market Funds’ Stable NAV Is a ‘Fiction’
SEC Chairwoman Mary Schapiro reiterated to senators Thursday that further reforms to money-market funds are necessary, saying the funds still “pose a significant risk” to the nation’s economy.
JPMorgan’s Dimon to Senators: $2 Billion Loss ‘Isolated Event’
“In hindsight,” JPMorgan Chase CEO Jamie Dimon told the Senate Banking Committee on Wednesday, “traders did not have the requisite understanding of the risks they took.”
Combatants Gear Up for SRO Hearing
Their collective rallying cry: an SRO isn’t needed—particularly if that SRO is FINRA. What to do instead? Fund the SEC so that it can conduct more frequent advisor exams.