Starting May 5, broker-dealers must follow Rule 2821, which deals with the sale of deferred variable annuities. The Financial Industry Regulatory Authority has provided guidance on the rule as well as the steps registered reps must go through when suggesting a deferred VA.
The rescue plan for structured investment funds, which is being led by JPMorgan Chase, Bank of America and Citigroup, is coming under increased pressure after Moody's Investors Service has cut or says it might cut ratings of debt issued by the SIVs. Moody's said that some of the funds owned assets with deteriorating values and that they might hit financial triggers that would spur sales of the assets and push prices down.
Writing for MarketWatch, David Weidner argues that the $8 billion disaster that is Merrill Lynch's third-quarter write-down shows that it's time for the bank to make a move in terms of its CEO Stan O'Neal. Weidner predicts O'Neal will be gone by the time second-quarter earnings are announced next year.
While most investors were watching Wall Street after the Federal Reserve's rate cut this week, the real action was in Asia and Latin America. Writing for MarketWatch, Bill Donoghue explains how the Fed's move affects ETFs in emerging markets.
As the New York Stock Exchange becomes more automated, companies listed on the exchange are missing out on information and stabilization, writes David Weidner for MarketWatch. Some companies are rethinking going with the NYSE because they are disappointed with what they get from the trading floor, according to Patrick Healy, who heads a company that consults firms interested in listing on an exchange.