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.
Some Shots in the Arm for a True Fiduciary Standard?
By Bob ClarkTwo good signs: the Coalition’s petition to the SEC, and a sign from the SEC that it may decouple ‘harmonization’ from 'fiduciary.'
June 27, 2011
SEC Official: Fiduciary Rule ‘Likely’ This Year, but Not HarmonizationA senior official at the SEC said Monday that while he believes the securities regulator will issue a rule putting brokers under a fiduciary mandate this year, the agency will hold off on issuing one on the overall harmonization of advisor and broker rules.
June 27, 2011
Financial Planning Coalition Sends Fiduciary Letter and Petition to SEC, CongressThe Financial Planning Coalition delivered a letter to the Securities and Exchange CommissionThursday, accompanied by a petition signed by 5,200 financial planners, urging the SEC to apply a fiduciary standard to anyone providing personalized investment advice to retail clients.
June 24, 2011
IRS: High Earners With No Tax Liability Skyrocketed in 2008The number of high-earning U.S. taxpayers who did not owe income tax in 2008 shot up by nearly 80% from the previous year, according to the spring 2011 edition of the Statistics of Income Bulletin, released June 14 by the IRS.
June 24, 2011
How to Lose a Charitable Deduction: The IRS SpeaksA simple, yet unforgivable, mistake could cost your clients their charitable deductions. What to do and what not to do.
June 23, 2011
Dodd-Frank: SEC Turns 3,200 Advisors Over to StatesThe U.S. Securities and Exchange Commission has approved a final rule that will put about 3,200 investment advisors who have been regulated by the SEC under state oversight.
June 23, 2011
FINRA to Stay Aggressive, Focus on Structured Products—Compliance WatchAt times of great market volatility, says FINRA's Brad Bennett, suitability and marketing problems rise.
June 23, 2011
Why the Survival of Independent Advice Giving Is at StakeMercer Bullard's new SRO may be the last, best hope for the independent advice business.