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October 25, 2012
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Twice-weekly summary of financial industry news
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  Top News 
  • Schapiro: Expect fiduciary standard regulations in 2013
    Securities and Exchange Commission Chairman Mary Schapiro says she is confident that the commission will produce a fiduciary standard for investment advisers and broker-dealers next year. "The devil is in the details, but I'm more confident that we will get it done, not less," Schapiro said. AdvisorOne (10/23) LinkedInFacebookTwitterEmail this Story
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  Policy Watch 
  • 3 key financial issues that slipped the candidates' minds at the debates
    Investor protections, the reform of the retirement industry and the real estate business all failed to get any significant mention during the presidential debates, write Ian Salisbury, Jonnelle Marte and AnnaMaria Andriotis. "These pocketbook issues haven't gotten much airtime, but they're likely to have a big impact on consumers and investors," they note. MarketWatch (10/23) LinkedInFacebookTwitterEmail this Story
  • FINRA lobbying costs fall 8.4% through September
    The Financial Industry Regulatory Authority cut its lobbying payments by 8.4% in the first nine months of 2012, according to federal records. That's in part because of lawmakers' decision to shelve an investment oversight bill written by Rep. Spencer Bachus, R-Ala. FINRA had been lobbying intensively on the legislation. InvestmentNews (free registration) (10/22) LinkedInFacebookTwitterEmail this Story
  • Other News
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  Building Your Business 
  • Other News
  Financial Products 
  • 403(b) market offers opportunities for advisers, researcher says
    The 403(b) market offers opportunities for providers that can deliver superior efficiency and service, says Ronald Bush of Brightwork Partners. The schools and nonprofit health institutions that offer the plans tend to be less knowledgeable of fiscal matters and more fee-resistant, and legacy vendors continue to dominate the marketplace, he says. "There's quite a likelihood of inheriting a mess in this market. But things are moving toward the 401(k) model, and that's creating a compelling need for independent advisers," he says. (10/24) LinkedInFacebookTwitterEmail this Story
  • Grantor trusts are a tax-efficient structure for succession
    A grantor trust is a tax-efficient way to structure the handover of a family business from one generation to the next, writes Heidi Bolger, CPA/ABV. An installment sale of the business interest to a grantor trust can result in no taxable gain recognized on the sale. The trust also freezes the business' value at the time of the purchase. Wealth Management Insider (10/18) LinkedInFacebookTwitterEmail this Story
  Retirement Focus 
  • Study: Workers' views on 401(k) plans vary by political affiliation
    U.S. workers' views on their employer's role in providing 401(k) contributions and financial advice vary depending on their political-party affiliation, according to a Wells Fargo study. More than 70% of self-described Democrats said companies should increase employees' 401(k) contributions automatically, compared with 56% of self-described Republicans, according to the study. When asked whether employers should advise workers about their 401(k) plans, 86% of Democrats and 67% of Republicans agreed, the study found. (10/23) LinkedInFacebookTwitterEmail this Story
  FSI Member News & Events 
  • Download the new FSI Advocacy App!
    The Financial Services Institute has launched a smartphone and tablet application designed to help advisers expand their role in the advocacy process. The app helps advisers contact their local representatives in Congress, get up to speed on FSI's advocacy priorities and know the top issues affecting the industry. Learn more about the app and download it today. LinkedInFacebookTwitterEmail this Story

  • FSI video touts advocacy results
    FSI urges you to watch this 50-second powerful video that highlights our impressive advocacy results in 2011. Our members' grass-roots and financial support are what make these accomplishments possible. Thank you for your membership! LinkedInFacebookTwitterEmail this Story

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--John Archibald Wheeler,
American theoretical physicist

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FSI was formed in January 2004 as an advocacy and membership organization for independent broker-dealers and independent financial advisors. We provide insight, information, influence, and involvement--all in support of our mission to provide visibility, credibility, and an improved regulatory environment for the independent channel. Learn more at

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