SEC to pay whistleblowers

Looking for a little extra cash? If you transact business with U.S. brokerage firms and know some dirty secrets, the SEC has a deal for you. The regulator’s new whistleblower rules allow those raising the alarm to collect between 10% and 20% of the sanctions brought in by the commission.

Meanwhile, as the 2012 run for the White House starts in earnest, U.S. President Barack Obama is planning to announce a major jobs initiative in September. The move, which is said to include deficit reduction measures and targeted tax cuts, may be a case of too little, too late.

Earlier this week, the U.S. administration said it wanted to make structural changes to keep the government’s hand in mortgage financing and help prevent another round of foreclosures. That led to calls by some to end subsidies for homeowners, which are estimated at $100 billion annually through both direct assistance and the deduction of mortgage interest off of personal income tax filings.

Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.