Legislation And Regulation
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White House budget proposal targets Social Security benefits
President Obama's plan takes aim at strategies used by upper-income claimants to increase their benefits.
Investment adviser lobbyist: Finra will renew effort to become adviser SRO
Regulator is 'playing the long game,' sees advisers as regulatory and revenue opportunity, IAA's Neil Simon says.
Finra's BrokerCheck comes under fire
Database omits bankruptcies, tax liens, and other vital information, lawyers group claims
Musk's next move; brokers fail to report trouble
The Tesla chief wants to get into military satellite launching. Plus, brokers failing to report trouble to Finra, stocks (and Costco earnings) drop, the Citi/Oceanografia plot thinkens, who you should follow on Twitter, and more.
Finra limits data collection plan, citing investor privacy
Bowing to industry concern, Finra says it will limit the personal data it collects in new monitoring program
Obama's budget: What advisers need to know
SEC would get funding boost; limits placed on retirement-savings tax breaks for wealthy.
Galvin's scrutiny of 401(k) matches misfires
The Massachusetts Securities Division, led by William Galvin, targeted many of the wrong firms in questioning 401(k) record keepers about employers moving to an annual match instead of contributing each pay period.
IRI leadership feels good about 'trajectory' of DOL fiduciary rule
Leaders of a key financial industry lobbying organization emerged from meetings with lawmakers this week confident that their worries about a pending Labor Department investment advice regulation are being heard. John L. Carter, president and chief operating officer of Nationwide Financial, and
Morgan Stanley wins dismissal of 'pay to play' suit
A federal judge has thrown out a lawsuit against Morgan Stanley alleging that the firm violated the Employee Retirement Income Security Act of 1974 by unlawfully directing business to ING as part of a “pay to play” scheme. Judge Analisa Torres of the U.S. District Court of the Southern District of
An ETF 'missionary,' Dave Camp's tax plan
Breakfast with Benjamin: A man called "Mr. ETF," plus the skinny on Dave Camp's tax plan, Edward Jones settles cold calling case, a Wall St. cop moves on and a new take on "insider" trading.
Edward Jones settles cold-calling case for $750,000
The New Hampshire Bureau of Securities Regulation accused the firm of unlawfully soliciting clients on do-not-call lists
Advisers embrace tax simplification, wince at surcharge on wealthy
Investment advisers embraced an effort by the leader of a congressional tax-writing committee to simplify the tax code but winced at the higher taxes on the wealthy that would be required to pay for the changes.
Finra fines, complaints drop as market improves
Finra reports that suitability fines and customer complaints have dropped as the financial crisis has faded further into the rearview. It's not all smooth sailing, however, as new regulatory priorities have emerged.
Regulator pushes for more fee disclosure from 529 college savings plans
Federal regulators next year will begin collecting additional data from the underwriters of 529 college savings plans, but the information won't immediately be made public. The Municipal Securities Rulemaking Board will collect the first batch of information from the nation's 529 plans by Aug. 30,
Why more advisers aren't running for office
Running for political office comes with risks for advisers, but also has an upside for the financial advice business
Explore your opportunities and be informed for your next move.
February 27, 2014