The Securities and Exchange Commission says examiners will be taking a close look at the types of products offered to investors saving for retirement, in particular rollover accounts and the suitability of recommended investments.
With the Department of Labor’s expected fiduciary proposal and the Financial Industry Regulatory Authority CARDS proposal on hold, the Financial Services Institute is looking to gain traction on issues at the state level like filing fees and crowdfunding....More
Regions Financial Corp has agreed to $125 million of settlements to resolve lawsuits accusing it of mismanaging three Morgan Keegan bond mutual funds that collapsed in 2007 after investing heavily in subprime mortgages and other risky debt....More
White House economic advisors say investors could be losing 10 to 15 percent of their potential retirement savings due to widespread abusive broker practices, according to a recently leaked memo. But industry advocates question where they got the numbers....More
In Private Letter Ruling 201503024 (released Jan. 16, 2015), a trustee of a trust that was a beneficiary of a decedent’s individual retirement account requested six rulings under IRC Sections 401(a)(9) and 408....More
New York's top law enforcer on Wednesday accused Barclays Plc of defying his subpoenas in a probe of high-speed trading in its private "dark pool," and moved to expand his lawsuit accusing the British bank of fraud....More
The U.S. risk council said Wednesday it will reform its process for designating firms as systemically risky, in an effort to make it more transparent and help give companies more advance notice about where they stand....More
Norman Champ, the top asset management regulator at the U.S. Securities and Exchange Commission who helped shepherd controversial new money market rules through a gridlocked commission, is leaving the agency later this month....More
A former Morgan Stanley stockbroker accused of a three-man insider trading scheme in which one of his co-conspirators allegedly wrote stock tips on napkins before eating them has agreed to plead guilty, according to a court filing....More
The top articles from the 2014 issues of the Investment Management Consultants Association® (IMCA®) Investments & Wealth Monitor demonstrate the range and depth of content IMCA has become well known for providing....More
Our capital market strategists share their vision on the economy, the equity markets, and the fixed-income markets. IMCA has accepted this program for 1 hour of CE credit towards the CIMA®, CIMC® and CPWA® certifications....More
Economic decoupling remains a prominent theme around the globe as we head into 2015. The divergent paths
seen today are a consequence of how individual countries have dealt with credit imbalances that accumulated prior to the global financial crisis. Recovery prospects continue to hinge on the speed, breadth, and quality of these adjustments....More
When it comes to switching firms, advisors must plan their transition carefully. It requires thoughtful planning, a desire to run and grow your business, and unwavering dedication to do what is right for your clients....More
Research shows that while the average age of financial advisors has gone up, the percentage of advisors that don't have a succession plan in place has gone up as well. Why don't more advisors have a plan, and how can the industry better prepare for the future.
The U.S. corporate high yield market has grown from $250 billion to a $2.4 trillion industry. High yield has proven to be a solid asset class for investors, over time producing comparable returns to the S&P 500 with approximately half the volatility....More