Legal

Congress is worried that any change to the definition of who is a fiduciary will limit the access minority groups have to investment advice.

The Securities and Exchange Commission has issued a cease and desist order against eight former directors of five Regions Morgan Keegan.

Top executives of a bankrupt coal producer and the nation's biggest miner's union are trading public jabs over bargaining meant to stave off a strike against a company given a court's go-ahead to slash health care and pensionbenefits to thousands of workers and retirees.

Defined contribution plan fees are starting to drop, thanks to fee disclosure regulations put in place last year.

Advisors, TPAs and plan sponsors agree: For participants, it was a nonevent when the DOL required fee disclosure to participants.

The SEC has accused a Detroit-based investment advisor of stealing nearly $3.1 million from the city's police and firefighter's pension plan.