Government Accountability Office

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  Olivia Mitchell, Kent Smetters, Others Reveal Holes in Retirement Advice

  By Gil Weinreich, AdvisorOne  |  August 17, 2012

  Surveys show millions of people want to discuss retirement with a professional advisor. But a forthcoming book edited by Olivia Mitchell and Kent Smetters points to barriers to advice in the retirement marketplace.

• The Heat Rises on FINRA as Advisor SRO

  By Melanie Waddell, AdvisorOne  |  June 26, 2012

  Just as a government watchdog is pressuring the Securities and Exchange Commission (SEC) to beef up its oversight of the Financial Industry Regulatory Authority (FINRA), Congress is mulling whether to give FINRA the power to oversee advisors.

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  GAO Criticizes FINRA, SEC on Oversight

  By Arthur D. Postal  |  June 1, 2012

  Serious questions are being raised about the effectiveness of FINRA and whether the SEC spends enough time overseeing this self-regulatory agency.

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  Bachus’ SRO Bill Blasted by Government Watchdog

  By Melanie Waddell, AdvisorOne  |  May 29, 2012

  The nonpartisan Project on Government Oversight told Reps. Spencer Bachus and Barney Frank in a letter on Tuesday that it opposes Bachus’ bill to create an advisor SRO.

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  401(k)s to Overtake Pensions as Primary Retirement Vehicle in 2012

  By Joyce Hanson, AdvisorOne  |  March 1, 2012

  For the first time, in 2012, more people will be saving for retirement in 401(k)-type plans than in traditional pensions, and that means employees need better guidance from plan sponsors, State Street Global Advisors reported in late January.

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  401(k)s to Overtake Pensions as Primary Retirement Vehicle in 2012: State Street

  By Joyce Hanson, AdvisorOne  |  January 26, 2012

  In 2012, more people will save for retirement in 401(k)-type plans than in traditional pensions, which means employees need better guidance from plan sponsors, says State Street Global Advisors.

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  Risk-Based Oversight of Investment Advisors

  By Les Abromovitz  |  January 1, 2012

  Even if the SEC had a larger budget and more resources, it is doubtful that the Commission would have the resources to regularly examine all RIAs. Therefore, the SEC is likely to continue relying on risk-based oversight to fulfill its mission of protecting investors.

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  Fed Conflict of Interest Threatens Reputation: GAO Report

  By John Sullivan, AdvisorOne  |  October 21, 2011

  A new report from the Government Accountability Office, which details potential conflict of interest within the Federal Reserve, finds that the Fed is taking on additional risks to its reputation by allowing the banking industry to participate in choosing board members at the 12 regional Fed banks.

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  Rep. Garrett to SEC: Wait on 'Net Equity' in Madoff Liquidation

  By Melanie Waddell, AdvisorOne  |  October 3, 2011

  Rep. Scott Garrett, R-N.J., told SEC Chairman Mary Schapiro in a letter on Monday to wait on final action in reconsidering the SEC’s position on 'net equity' in the Bernie Madoff case until after the GAO publishes its report evaluating the actions of the SIPC and its trustee.

• Former Top FINRA Official Shorris Joins LPL

  By Melanie Waddell, AdvisorOne  |  September 30, 2011

  LPL Financial announced Friday that it has hired James Shorris, a former top enforcement official at FINRA, as executive VP and associate counsel for regulatory and compliance policy.