Washington

SEC rejects Chicago Stock Exchange sale to Chinese investors

Regulation -

Regulation -

The SEC on Thursday rejected the proposed sale of the Chicago Stock Exchange to a group headed by investors based in China.
SEC commissioner calls for curb on dual-class 'forever' shares

MARKETS -

MARKETS -

U.S. exchanges should consider barring companies that offer lifetime dual-class shares or requiring them to include sunset provisions.
When Trump's SEC punishes Wall Street, it's often done quietly

REGULATION -

REGULATION -

Under President Donald Trump, a top financial regulator isn't embarrassing Wall Street as much as it used to.
401(k) plan sponsors are increasingly hiring fiduciary advisers

DEFINED CONTRIBUTION -

DEFINED CONTRIBUTION -

Employers sponsoring a 401(k) plan are increasingly hiring investment advisers who serve as fiduciaries to their retirement plan.
Mnuchin says IRS to ban hedge fund tax dodge on carried interest

Regulation -

Regulation -

Treasury Secretary Steven Mnuchin said the IRS plans on closing a loophole that hedge fund managers had been trying to exploit to avoid paying higher taxes on carried-interest profits.
Budget proposal seeks hike in multiemployer PBGC premiums

WASHINGTON -

WASHINGTON -

Multiemployer pension funds would see their PBGC premiums increase over the next decade under a White House budget proposal released Monday.
Trump infrastructure plan offers $200 billion to spur $1.5 trillion

Washington -

Washington -

President Trump's infrastructure plan calls for the federal government to spend $200 billion to spur at least $1.5 trillion in investment.
Jump in U.S. yields may not lure foreign cash, and here's why

Markets -

Markets -

Treasuries are offering the highest yields in four years — and a multiple of those in Japanese and European bond markets.
Fed nominee Marvin Goodfriend cleared for Senate vote

Washington -

Washington -

Marvin Goodfriend's nomination to serve on the Federal Reserve's board of governors was narrowly approved by the Senate Banking Committee Thursday.
Tax law mostly spurring stock buybacks, Senate Democrats find

Markets -

Markets -

Companies are using savings from lower tax rates to finance corporate stock buybacks, according to a report from Senate Democrats.
SEC exams to focus on retirement savers, markets

REGULATION -

REGULATION -

Exam priorities for the SEC in 2018 include protecting retirement savers, critical market infrastructure providers and more.
Special pension committee formed in Congress to come up with multiemployer bill

Washington -

Washington -

Congress will vote later this year on legislation to help struggling multiemployer pension funds, once a new select committee comes up with a plan.
SEC chairman says he's not ready to force arbitration

Regulation -

Regulation -

Barring investor lawsuits is not on his radar, SEC Chairman Jay Clayton told a Senate panel.
Intercontinental Exchange moves pension fund allocation to nearly all bonds

Pension Funds -

Pension Funds -

Intercontinental Exchange overhauled the asset allocation of its frozen U.S. defined benefit plan as a result of its derisking strategy.
Commentary: Rebate debate misses the mark

INDUSTRY VOICES -

INDUSTRY VOICES -

Though often criticized, broker rebates provide an incentive for efficient trades, but one model offers investors a better deal.