Actualités des Marchés de capitaux, des Titres et de l'Industrie financière

Washington Roundup

Labor Department finalizes rule covering 401(k) advice
The Labor Department has finalized a controversial rule that gives financial advisers a couple of ways to provide participants in 401(k) plans or individual retirement accounts with advice. The rule will allow advisers to use unbiased computer models to provide advice. Alternatively, advisers will be allowed to choose investments if their compensation is the same no matter what products they select. Bloomberg(10/24), InvestmentNews(free registration)(10/24), The New York Times (tiered subscription model)/Bucks blog(10/24), The Washington Post/The Associated Press(10/24)

Sen. Harkin is expected to propose U.S. financial-transaction tax
Sen. Tom Harkin, D-Iowa, is expected to introduce legislation that would subject financial transactions to a small tax. The Obama administration opposes the proposal, and most congressional Republicans oppose any new tax. Learn moreabout the financial transaction tax. InvestmentNews/The INsider blog(free registration)(10/24)

 
SEC makes first enforcement action involving a "dark pool"
The Securities and Exchange Commission fined Pipeline Trading Systems and two of its executives over claims that a "dark pool" trading platform ran a secret, misleading affiliate business that took advantage of investors. "It's really shocking," said Larry Tabb, founder of TABB Group. "Here's a firm that's built a brand around executing large blocks and doing it in an unconflicted manner and here they are, taking the other side of many of these trades and not being forthcoming." The Wall Street Journal (tiered subscription model)/Dow Jones Newswires(10/24), Bloomberg(10/24), Reuters(10/24)

SIFMA: Your go-to resource for information on the Dodd-Frank Act

Operations Update

Commentary: Changes to middle-office processes are needed
Omgeo CEO Marianne Brown calls for improving middle-office processes, saying a push for legal-entity identifiers is a step in the right direction. Financial Times (tiered subscription model)(10/24)

Asset/Wealth Management Report

Mortgage-bond prices reach 6-month low
Traders, betting that new federal efforts to help struggling homeowners will result in more early repayments, drove down the prices of billions of dollars' worth of mortgage bonds. Financial Times (tiered subscription model)(10/24)