Compliance

SEC Tightens Adviser Custody Rules

The Securities and Exchange Commission (SEC) has adopted Bernard Madoff-inspired rules that make it more difficult for investment advisers to custody their clients’ assets.

SEC Widens Probe of BofA

The U.S. Securities and Exchange Commission (SEC) said today it is investigating Bank of America Corp.’s (BofA) failure to disclose Merrill Lynch’s losses to shareholders voting on Merrill’s...

House Passes Sweeping Financial Reform

U.S. House lawmakers today approved an extensive financial reform measure—but the provision to give the Financial Industry Regulatory Authority (FINRA) more purview over advisers didn’t go through.

IRS Delays Plan Amendment Timetable

The Internal Revenue Service (IRS) has given plan sponsors more time to adopt plan amendments to implement a variety of Pension Protection Act (PPA) requirements, including allowing participants...