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.
Party Crashers
By Arthur D. PostalThe Securities and Exchange Commission is signaling to industry lawyers it is focusing on the disclosures involved in annuities that provide living benefit riders.
November 29, 2011
Judge Blocks, Blasts SEC-Citigroup SettlementJudge Jed S. Rakoff on Monday rejected a settlement negotiated between the SEC and Citigroup over a $1 billion mortgage fund and said that he could not determine whether the $285 million settlement was fair, reasonable, adequate and in the public interest.
November 28, 2011
New Cost Basis Reporting Best PracticesWe have almost completed our first year under the IRSs new cost basis regulations and reporting requirements.
November 28, 2011
Internal Changes at SEC’s Exam DivisionAs uncertainty remains in the debate over whether an SRO should oversee advisorsand a new option of using outside auditors for advisor exams in lieu of an SRO was recently thrown into the mixchanges are afoot within the SECs exam division.
November 28, 2011
SEC Charges Three Advisors With Compliance ViolationsThe SEC on Monday charged three investment advisors for failing to put in place compliance procedures designed to prevent securities law violations.
November 23, 2011
Disclosure UpheavalIn 2012 two new fee disclosure regulations will take effect for 401(k) and similar retirement plans. These new regulations were issued and will be enforced by the Department of Labor (DoL) and the IRS.
November 22, 2011
FINRA Fines Wells Investment Securities Over ‘Misleading’ REIT MaterialsFINRA fines Wells Investment Securities $300,000 over non-traded timberland REIT advertising and sales materials which contained 'misleading, unwarranted and exaggerated statements.'
November 22, 2011
7 Areas of ‘Relief’ for Advisors in DOL’s Reproposed Fiduciary RuleWell-known ERISA attorney Fred Reish predicts the areas of relief DOL will provide when it reproposes its fiduciary rule.