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March 21, 2013
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Advocating Direct Investments through Education

  Top Stories 
  • NYC office leasing picks up momentum
    Though it's early in the year, traditionally a slower period, office leasing is up in New York City, totaling more than 4 million square feet in the first two months, Cushman & Wakefield Chief Economist Ken McCarthy says. "My feeling is that leasing will be higher this year than last year," when 23 million square feet were leased, McCarthy said. Discounted rent in the financial district appears to be driving part of the demand. Crain's New York Business (3/12) LinkedInFacebookTwitterEmail this Story
  Policy Update 
  • FINRA's Ketchum calls for harmonization of rules
    Investment advisers and brokers should be governed by the same set of rules, and the Securities and Exchange Commission's oversight has fallen short, says Richard Ketchum, the chairman and CEO of the Financial Industry Regulatory Authority. "If investors are to be protected, investment advisers need to be examined regularly and vigorously. It's as simple as that, and it is not happening under our current system," Ketchum said at an industry conference. Taking over supervision of investment advisers, however, is not a priority for FINRA, he has said. The Wall Street Journal (3/14) LinkedInFacebookTwitterEmail this Story
  • SEC user-fee bill will be proposed again
    Rep. Maxine Waters, D-Calif., says she will introduce a bill that would give the Securities and Exchange Commission authority to impose user fees to cover the cost of examining investment advisers. The measure is identical to one Waters introduced last year; it failed to make it to a vote in the House Financial Services Committee before the congressional session ended in December. InvestmentNews (free registration) (3/13) LinkedInFacebookTwitterEmail this Story
  • SEC doesn't have to turn over FINRA documents, court says
    A court has ruled that documents relating to the Securities and Exchange Commission's oversight of the Financial Industry Regulatory Authority do not need to be disclosed under the Freedom of Information Act. "All the records relating to the SEC's examination reports -- including reports related to the administrative function of FINRA -- are exempt from disclosure under FOIA," U.S. District Judge Beryl Howell wrote in her decision. Reuters (3/14) LinkedInFacebookTwitterEmail this Story
  • SEC issues social media guidelines
    The Securities and Exchange Commission has told fund companies that most social media activity does not need to be reviewed by the Financial Industry Regulatory Authority. Fund companies only need to submit posts that either make specific performance claims or that advertise the merits of a fund. Reuters (3/15) LinkedInFacebookTwitterEmail this Story
  Industry News 
  • TNP Strategic Retail Trust might suspend dividend for 2013
    TNP Strategic Retail Trust, a nontraded real estate investment trust founded by longtime real estate deal-maker Tony Thompson, says it won't pay a dividend this quarter and might make no distribution this year. In a filing with the Securities and Exchange Commission, the REIT cites short-term liquidity issues and the cost of potential litigation with lenders. InvestmentNews (free registration) (3/19) LinkedInFacebookTwitterEmail this Story
  Income Planning 
  • Schwab annuity product addresses multiple needs
    Charles Schwab is offering the Retirement Income Variable Annuity, with guaranteed lifetime income and a low base fee of 0.6%. The company is looking to please clients by keeping fees down while providing security and a decent return in an environment of low interest rates. The key is Schwab's bulk buying of the retirement-income annuity from Pacific Life Insurance, which provides the knock-on benefit of an insurance component for added consumer peace of mind. RIABiz.com (3/18) LinkedInFacebookTwitterEmail this Story
  • Why collective investment trusts could be a good option
    Collective investment trusts offer some of the benefits of mutual funds, but with lower fees. CITs, which aren't marketed to retail investors or traded on exchanges, are increasingly offered as options in retirement plans. They are collections of assets overseen by banks or trust companies and are regulated by the Office of the Comptroller of the Currency. The Wall Street Journal (3/15) LinkedInFacebookTwitterEmail this Story
  • 1 in 3 workers tapped 401(k)s for loans in 2012, study finds
    Nearly a third of U.S. workers took a 401(k) loan or hardship distribution last year, according to a Financial Finesse study. Nearly half of workers earning $35,000 to $60,000 tapped their 401(k) accounts in 2012, while 11% of those with incomes over $200,000 did so, according to the study. The study also said that 34% of women borrowed from their 401(k) funds, compared with 23% of men. Bloomberg Businessweek (3/15) LinkedInFacebookTwitterEmail this Story
  IPA Member Information 
  • Be part of something big!
    The IPA 2013 Spring Conference: Investor Focused Innovation is scheduled May 8 to 10 at the Capital Hilton in Washington, D.C. Room block for hotel rooms ends April 16! Our agenda is shaping up to be the best yet! Register! LinkedInFacebookTwitterEmail this Story
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  SmartQuote 
Quality is not an act, it is a habit."
--Aristotle,
Greek philosopher


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