Brokers serving retirement plans and other institutional investors were accused of routing orders for equities to an offshore affiliate in Bermuda that “executed them on a riskless basis and opportunistically boosted profits by adding a mark-up or mark-down on the price of a security.”
The SEC says whether offering a brokerage window in a 401(k) through which investments in employer securities can be made involves an offer of employer securities requiring Securities Act registration depends on the extent of the plan sponsor’s involvement.
number of elected officials have emerged on the side of financial advisers in
opposing the Department of Labor’s fiduciary redefinition effort—introducing ambitious
legislation to block changes to the fiduciary standard.
November 19, 2010 (PLANSPONSOR.com) - The Securities and Exchange Commission (SEC) has voted to propose new rules to “strengthen the SEC's oversight of investment advisers and fill key gaps in the regulatory landscape”.
November 8, 2010 (PLANSPONSOR.com) - The mutual fund trade industry’s voice has weighed in on the 12(b)1 debate – and, as might be expected, they aren’t keen on some of the changes under contemplation.
December 29, 2009 (PLANSPONSOR.com) - The Securities and Exchange Commission has charged a Houston-based broker with engaging in “unauthorized and unsuitable” trading on behalf of two Florida municipalities.
December 17, 2009 (PLANSPONSOR.com) - The Securities and Exchange
Commission (SEC) has approved rules to enhance the information provided to
shareholders to evaluate the leadership and compensation policies of public