Washington

Speakers encourage fiduciary role for advice on DC lump sums, IRA rollovers

Speakers encourage fiduciary role for advice on DC lump sums, IRA rollovers

People giving advice to defined contribution plan participants about lump-sum distributions and rollovers to individual retirement accounts should be covered by a new fiduciary standard, several...

August 12, 2015 | 03:59 pm
Fiduciaries to pay $15 million for lack of diversification with Wheeling Severstal plans

Fiduciaries to pay $15 million for lack of diversification with Wheeling Severstal plans

Investment manager WPN Corp. and Ronald LaBow, its former president, were ordered Monday to pay $15 million to two defined benefit plans of Severstal Wheeling Inc. for failing to diversify plan assets.

August 12, 2015 | 03:17 pm

SEC told to proceed cautiously on manager disclosure proposal

An SEC proposal to require money managers to submit additional information about separately managed account clients should proceed carefully, said several letters filed Tuesday.

August 11, 2015 | 03:52 pm
DOL panel presenters debate more disclosure vs. stricter fiduciary rule

DOL panel presenters debate more disclosure vs. stricter fiduciary rule

A customer bill of rights would go “a long way toward informing participants” in retirement savings accounts about what they are paying in fees and transaction costs, and would be better...

August 11, 2015 | 03:47 pm
SEC to continue administrative proceedings; inspector general doesn't find bias

SEC to continue administrative proceedings; inspector general doesn't find bias

The SEC's inspector general has not found evidence to support allegations of bias in the agency's administrative proceedings, but will continue its investigation, said an interim report.

August 11, 2015 | 03:17 pm
Government agencies turning up the heat on fees

Government agencies turning up the heat on fees

The pressure on private equity and hedge fund firms to disclose more about what investors pay them continues to build from Washington regulators questioning long-held traditions.

August 10, 2015
System is ‘structurally flawed,’ Borzi says as fiduciary rule hearings start

System is ‘structurally flawed,’ Borzi says as fiduciary rule hearings start

Public hearings on an updated fiduciary standard proposed by the Department of Labor got underway Monday with witnesses presenting a range of positions.

August 10, 2015 | 03:38 pm
Guggenheim Partners reaches $20 million SEC settlement

Guggenheim Partners reaches $20 million SEC settlement

Guggenheim Partners Investment Management agreed to pay $20 million to settle charges of failing to disclose a $50 million loan to a senior executive from an advisory client.

August 10, 2015 | 03:45 pm
Experts fear rise in trading costs will follow onset of Volcker rule

Experts fear rise in trading costs will follow onset of Volcker rule

The implementation of the Volcker rule last month is expected to accelerate the trend among institutional money managers to break up their block trades in fixed income, causing concern that the...

August 10, 2015
Republicans debate Social Security changes

Republicans debate Social Security changes

Social Security had a brief mention at the first Republican presidential candidate debate for the 2016 election on Thursday night, with two of the 10 highest-polling Republican candidates discussing...

August 07, 2015 | 01:48 pm

SEC proposes registration rules for swaps dealers, participants

The SEC on Wednesday recommended establishing registration rules for security-based swaps dealers and major swap participants that also would allow those that are subject to enforcement actions to...

August 05, 2015 | 04:08 pm
Judge’s ruling another setback for SEC’s administrative proceedings

Judge’s ruling another setback for SEC’s administrative proceedings

Gray Financial Group won a preliminary injunction Wednesday stopping a Securities and Exchange Commission administrative proceeding in a federal court ruling addressing the larger question of whether ...

August 05, 2015 | 03:24 pm
SEC approves CEO pay ratio rule

SEC approves CEO pay ratio rule

Public companies must disclose the ratio of CEO pay to median employee pay under a rule adopted Wednesday by the Securities and Exchange Commission.

August 05, 2015 | 01:29 pm
Dodd-Frank ‘backfired,’ SEC commissioner says

Dodd-Frank ‘backfired,’ SEC commissioner says

The Dodd-Frank Wall Street Reform and Consumer Protection Act “has backfired,” Securities and Exchange Commissioner Daniel M. Gallagher Jr. told a U.S. Chamber of Commerce audience Tuesday.

August 04, 2015 | 03:43 pm
PIMCO gets Wells notice over Total Return Fund ETF

PIMCO gets Wells notice over Total Return Fund ETF

PIMCO said regulators are considering taking action against the firm over marking of securities in the exchange-traded fund version of its flagship Total Return Fund.

August 03, 2015 | 06:00 pm