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.
SEC Enforcement: HSBC to Pay $12M Over Cross-Border Breaches
By Marlene Y. SatterMeanwhile, a CEO and the manager of a restaurant he frequented were fined for insider trading.
November 24, 2014
Examiners Get ToughUnderstanding the inner workings and pressures on the SEC is valuable to advisors, but RIAs are mostly worried about SEC examinersand they should be, according to Tom Giachetti, chair of the securities practice group at Stark & Stark. Theyre assuming youre doing something wrong, said Giachetti of SEC examiners under...
November 24, 2014
IRS Releases Guidance on Roth After-Tax IssuesThe Internal Revenue Service in late September issued long-awaited guidance on the allocation of after-tax amounts to rollovers, which answers what IRA guru Ed Slott said is one of the most common, if not the most common, question that he gets from advisors.
November 24, 2014
White Promises ‘Clarity’ on FiduciaryWhile SEC Chairwoman Mary Jo White said in mid-November that the agency had not yet decided whether to do something or what to do regarding a fiduciary rulemaking, White said she planned to provide clarity as to her position regarding a uniform fiduciary rule in the short term.
November 24, 2014
Two Other BD Issues Still LoomThe independent broker-dealer community has consistently and loudly derided the Department of Labor's on-again, off-again plan to redefine fiduciary under the Employee Retirement Income Security Act. In late October, Labor Secretary Thomas Perez said the department continues to reach out to stakeholders regarding the redraft of its rule so that...
November 24, 2014
FINRA FinesFines imposed by the Financial Industry Regulatory Authority in 2014 are poised to far outpace those reported by the regulator in 2013, according to an analysis released Aug. 1 by the law firm Sutherland Asbill & Brennan.
November 24, 2014
The SEC Is BrokenA decades-old law and the origin of new commissioners stymies consensus building and rulemaking at the Securities and Exchange Commission.
November 24, 2014
3 new IRS health account rulesTwo could make the accounts less flexible, but one may free insurers from nanny duty.