The SEC said it will reduce fees on securities transactions and registrations by $1 billion in the fiscal year starting October 1, 2006. In fiscal 2007, the fees that public companies and other issuers pay to register their securities with the Commission will be reduced by 71.3% and the fees applicable to most securities transactions will be reduced by 50.2%, a move the Commission said will benefit individual investors…
The NASD issued a warning to investors that cashing out of their 401(k) assets at even a modest level can have a potentially devastating effect on their retirement savings. According to the NASD, a recent study found that 45% of employees cash out of their 401(k) plans when they change jobs. The alert, “Think Twice Before Cashing Out Your 401(k),” examines the short- and long-term consequences of withdrawing funds and explains such other options as: leaving the money in the former employer’s plan; rolling the money over to a new plan; or putting it into an IRA. The alert suggests that investors would be much better off borrowing against their 401(k) then cashing out of it…