The Federal Reserve sees value in Basel II, a capital plan designed to reduce risks of U.S. banks, although the central bank understands more details must be hammered out, especially with those opposed to the measure. Many banks are calling for a more streamlined approach and worry that Basel II will hinder their ability to effectively compete at the international level.
Getting young people -- fresh out of school and burdened with student-loan and credit-card debt -- to think about retirement isn't easy. But some giants of the finance industry are spending millions trying to convince Generation Y to save for the golden years.
Ohio Republican Rep. Michael Oxley, co-author of the landmark Sarbanes-Oxley corporate governance law, said he expects some minor changes to the law by as early as next year. Oxley also told attendees at the Dow Jones Private Equity Analyst Conference that the cost of compliance with Sarb-Ox was tough on small businesses, but that constituents around the country were "white hot" for strict laws on corporate governance.
New York City has commissioned a study to determine why more international IPOs are not occurring on the New York exchanges. The U.S. attracted four out of the top 25 international IPOs in each of the last two years, which some have attributed to the strict rules of Sarbanes-Oxley and high fees.
Automatic 401(k) enrollment for employees makes sense, according to behavioral-finance economists, who believe most investors need help making investment and retirement savings decisions. This group of economists also supports mutual-fund companies revamping their approach by helping investors focus on long-term goals.