Federal Regulation
Get the latest news and insights on regulatory developments affecting financial advisors and the stock market and trading, including news about the SEC, DOL, IRS and the Financial Industry Regulatory Authority.
IRS Says Archer MSA Program Can Keep Going
By Staff WriterThe Archer Medical Savings Account is small enough that it can keep going for another year.Officials at the Internal Revenue Service discuss that conclusion in ...
April 10, 2007
SIFMA Urges SEC Back to Court Over Broker/Dealer ExemptionSince the March 30 Washington D.C. Court of Appeals overturn of the SEC's broker/dealer exemption from fiduciary responsibility for fee-based brokerage accounts, there has been a distinct point-counterpoint repartee, albeit indirectly, between the Financial Planning Association, which filed the lawsuit in 2004 protesting the broker/dealer exemption, and the Securities Industry...
April 06, 2007
IRS Treats More Severance Pay As Section 415 CompOfficials at the Internal Revenue Service have completed work on regulations that will affect the everyday nuts and bolts of retirement plan administration.The IRS has ...
April 01, 2007
Perqs Lead to PenaltiesAbout 600 charities and foundations have had to file amended tax forms due to an IRS study that found flaws in the way the organizations...
April 01, 2007
14 Charged with Insider TradingThe titans of Wall Street aren't involved. But a former UBS executive director, ex-Morgan Stanley compliance attorney, and several former Bear Stearns brokers are. "UBS is...
March 30, 2007
Federal Court Rules in Favor of FPAfederal appeals court has ruled in favor of the Financial Planning Association in its suit to overturn the SEC exemption from fiduciary responsibility for broker/dealer reps known as the "Merrill Lynch rule." In a statement following the ruling, the FPA characterized the decision as a victory for consumers and urged...
March 22, 2007
DOL Requires More Due Diligence for 401(k) AdvisorsA bulletin issued in early February by the Department of Labor (DOL), which calls upon advisors to plan sponsors go through an increased due diligence process in line with specifications detailed in the 2006 Pension Protection Act (PPA), is set to bring about change in the advisor community--not least, experts...
March 15, 2007
FPA Asks SEC To Clarify Its TermsThe Financial Planning Association says federal regulators ought to do a better job of distinguishing fee-based brokerage services from true financial planning services.The FPA, Denver, ...