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.
Federal Regulators Re-Propose SIFI Criteria
By Arthur D. PostalAs the Financial Stability Oversight Council re-proposes the criteria it will use to determine whether an insurer is systemically important enough to merit additional federal regulation, an uneasy industry prepares for the worst.
October 07, 2011
‘Volcker Rule’ Leak Prompts Wall Street Scandal (AdvisorOne)Wall Street was in a frenzy on Thursday, following a leak late Wednesday night of language for the proposed "Volcker rule," a regulatory measure named for former Fed Chairman Paul Volcker, who famously proposed a ban on proprietary trading by banks.
October 07, 2011
IRS Offers Amnesty for Registered Reps ClassificationIf your firm has misclassified employees as independent contractors, the IRS is giving you a chance to come clean. But states may hit you up for back taxes and penalties.
October 07, 2011
SEC, FINRA Sanction Chief Compliance Officers, Sutherland Report FindsA recent report by the law firm Sutherland, Asbill & Brennan analyzes recent SEC and FINRA actions against chief compliance officers at BDs and advisory firms, highlighting examples of conduct that regulators have identified as sanction-worthy.
October 06, 2011
For YOUR Own GoodDodd-Frank does not require a rule, just the already-completed study. But internal pressure from the advisory and retail investment world is mounting for clarity and a standard ruleas has interest among private firms advisors and some consultantsfor those selling life/annuity insurance and other investment products in the broker channel to...
October 06, 2011
Treasury Set to Issue Lifetime Income Guidance; DOL to FollowThe Treasury Department plans to release soon guidance for employers on how best to integrate lifetime income products into 401(k)s and other employer-sponsored retirement plans, while the Department of Labor plans to follow with similar guidance early next year.
October 05, 2011
IRS Clarifies Life Settlement RulesA recent ruling by the IRS confirms its official position on certain key tax issues regarding life settlements, as per a request from officials in Luxembourg
October 05, 2011
FSI Members Storm Congress to Lobby for Advisor SROAdvisors and broker-dealer representatives descended on Capitol Hill on Wednesday to urge about 260 members of Congress to support Rep. Spencer Bachus draft legislation calling for one or more SROs to oversee investment advisors.