Goldman Sachs agreed Thursday to pay a record $550 million to settle charges that it committed fraud when it misled investors in its Abacus subprime mortgage CDO deal, sold to institutional investors. The settlement is the largest the S.E.C. has...
The Senate voted 60 to 39 Thursday afternoon to pass the Wall Street regulatory reform bill. The bill, which has been the subject of intense debate for months, now goes to President Obama for his signature.
New regulation under ERISA section 408(b)(2) is expected to be released in the fall of 2010 and take effect in 2011. One key consequence of these regulations is level pricing for financial advisers (FAs) who provide services to 401(k) plans.