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November 15, 2012
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Twice-weekly summary of financial industry news
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  Top News 
  • Risk council wants stricter rules for money funds
    The Financial Stability Oversight Council says money market funds should face stronger regulation because they are vulnerable to a run if a financial crisis arises. "Some basic vulnerabilities in the design of money market funds helped accelerate the financial crisis of 2008 and 2009," said U.S. Treasury Secretary Timothy Geithner, who chairs the council. "We are not yet at the point where we have achieved and put in place a set of reforms that provide us a sufficient degree of comfort against those basic vulnerabilities." Reuters (11/13), Bloomberg (11/14), The New York Times (tiered subscription model) (11/13), The Wall Street Journal (11/13) LinkedInFacebookTwitterEmail this Story
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  Policy Watch 
  • Analysis: U.S. regulators are likely to step up efforts
    U.S. financial regulators are expected to be more vigorous in their jobs and speed up the rate of rule writing during President Barack Obama's second term. However, the core problems are just as intractable as ever, given their structural nature, writes Jesse Eisinger of ProPublica. One area the Dodd-Frank Act failed to address was the independence of regulatory agencies, particularly the Securities and Exchange Commission and the Commodity Futures Trading Commission. The New York Times (tiered subscription model)/DealBook blog (11/14) LinkedInFacebookTwitterEmail this Story
  • SEC sets record for enforcement actions
    The Securities and Exchange Commission initiated the most enforcement actions in its history against financial advisers and investment firms during fiscal 2012, which ended Sept. 30. The regulator filed 147 actions, one more than in fiscal 2011, the previous record. InvestmentNews (free registration) (11/14) LinkedInFacebookTwitterEmail this Story
  • Other News
  Financial Products 
  • Advisers adapt investment strategies amid uncertainty
    Financial advisers are working to devise investment strategies that will manage the risks associated with the looming "fiscal cliff," high domestic and foreign debt, and other challenges. Retiring baby boomers should look beyond bonds and consider higher-yielding investments such as infrastructure and emerging-market debt, says Michael Abelson of Genworth Financial Wealth Management. The Wall Street Journal (11/12) LinkedInFacebookTwitterEmail this Story
  • Target-date funds' growth will continue, study says
    Target-date funds are expected to account for 80% of defined-contribution plans by 2016, a BrightScope study says. That compares with 76% last year. Still, just half of plans pick target-date funds as the default for investors, another report found. AdvisorOne (11/12) LinkedInFacebookTwitterEmail this Story
  Retirement Focus 
  • How raising the retirement age hurts lower-income workers
    Raising the retirement age could help preserve Social Security's long-term funding while recognizing demographic changes. But for lower-income workers, such a shift could be "punitive as well as heartless," Philip Moeller writes. That's because lower-income people typically are in more physically demanding jobs and can't work longer, so they would receive significantly lower benefits. U.S. News & World Report/The Best Life blog (11/13) LinkedInFacebookTwitterEmail this Story
  • Pensions aren't as great as employees think, experts say
    About half of workers in a Towers Watson survey said they'd rather have a pension than the chance to earn a bigger bonus, but many workers may be overestimating the value of traditional pensions, experts say. For example, in 1980, private-pension payments only made up about 8% of retirees' overall income, according to the Investment Company Institute. Also, many employees who retired with pensions during this time were ineligible for full benefits, ICI economist Peter Brady said. MarketWatch/Encore blog (11/13) 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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Keep your fears to yourself but share your courage with others."
--Robert Louis Stevenson,
Scottish novelist, poet and essayist

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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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