Operations & Technology Section

News

Labor Department Proposes Dollar-Based 401(k) Fee Disclosure

Projects Roughly $225 Million Annually in Lower Fees for Participants Due to Better Transparency

401(k) Debit Cards The Next Credit Threat?

‘We Absolutely Hate It’: AARP

MME’s Fund Operations Awards — Extension for Entries Through July 31

The deadline for entries to Money Management Executive's Sixth Annual Fund Operations Awards has been extended through Thursday, July 31, so you still have plenty of time to enter. This is the perfect way to receive the accolades you believe your firm or service provider deserves for one or more of the following categories: Leadership, Innovation, Efficiencies/Streamlining and New Media. Entry forms and information are available at our website: http://www.mmexecutive.com/fund_operations_awards/. …

Prudential Honors Retirement Plan Sponsors

Faith Technologies Inc., VSP Vision Care, Knauf Insulations, Rogers Corporation, and International Union of Operating Engineers Receive Honors

Alger Acquires New Data Distribution Applications

AccessDiscovery Matches Trading Info with Database

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Articles

Going Green Can Save Fund Firms Millions

In November of last year, the Securities and Exchange Commission proposed a rule to decrease the prospectuses of mutual fund firms to summaries of around three pages that could be accessed online.

Legg Slashes CEO's, Founder's Salaries

In light of Legg Mason's recent struggles and dropping stock price, the company has slashed the pay of CEO Mark Fetting and its founder Raymond 'Chip' Mason.

Hedge Funds Fear New SEC Regulations

NEW YORK - The freewheeling days for hedge funds may be numbered. Depending on who gets elected to the White House in November, the next Securities and Exchange Commission may push to impose additional regulations on hedge funds that, many critics say, could strangle managers' ability to generate exceptional returns. Ironically, hedge fund experts say the best way for the industry to prepare for the new regulations may also be the best way to prevent the new regulations from happening.

Distribution Road Hits Superhighway

WELLESLEY, Mass. - Gone are the supposed days when wholesalers stood around conference booths all day, cavalierly handing out golf balls, or taking brokers out for cigars and whiskey. To get through the new 'Fund Selection Unit' gatekeepers at brokerage firms, today's wholesalers need not just have excellent people skills and be nimble, but be highly knowledgeable about the mutual funds they are selling, retirement planning issues and the economy, as well as be technologically savvy. 'Wholesalers act as the quarterback in the field,' said Matthew Witkos, president of Eaton Vance Distributors, at the National Investment Company Service Association's General Membership Meeting here, held last Monday at the Wellesley Country Club. 'They have such a huge responsibility. Imagine trying to remember what product you have on what platforms at what time.'

Going For The Top

When News Corp. Chairman and CEO Rupert Murdoch speaks, we in the financial publishing world listen, just as fund managers hang on words from Warren Buffett, Bill Gross or Peter Lynch. And while we don't profess to be The Wall Street Journal, the flashy new publisher of that paper's take on his readers is one worth noting, for it parallels what we aim to achieve here at Money Management Executive.

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