Legal

The CBO found that raising the Medicare eligibility age or the early or full eligibility age for Social Security would reduce federal spending and limit the number of people with access to health insurance.

In prior entries, we have discussed a variety of issues related to the fee disclosure responsibilities of broker/dealers and financial advisors. This month, well address the impact of the 408(b)(2) disclosure regulations on third party administrators.

The economists and staff at the Securities and Exchange Commission who are responsible for performing a more detailed cost-benefit analysis on the agencys rule to put brokers under a fiduciary mandate plan to ask the public to weigh in.

E*Trade Securities LLC has agreed to return up to $20 million to California investors over allegations that the company misrepresented auction rate securities to investors as safe, cash-equivalent products, even though the products faced increasing liquidity risk.

Regions Financial Corp. is selling Morgan Keegan & Company Inc. and related affiliates to Raymond James Financial Inc. for $930 million.

The Principal Financial Group is expanding its investment fiduciary support to include ERISA 3(21) and 3(38) fiduciary services provided by Wilshire Associates Inc.

Credit Suisse may act as the lender to the employee fund, and the reduction in so-called risk-weighted assets will reduce Credit Suisses capital requirements

Like 401(k) providers, 403(b) plans must also comply with the DOLs Employee Benefit Security Administrations fee disclosure rule, which is slated to take effect on April 1.