TRADING FUTURES ON DEBT SECURITIES: The Securities and Exchange Commission and the Commodity Futures Trading Commission have jointly proposed rules that would permit trading of futures on debt indexes in an effort to create a new class of tradable derivatives contracts.Futures contracts on debt indices that are allowed under the proposed rules would trade on futures exchanges subject to regulation by the CFTC. Securities futures on debt securities could be traded on futures exchanges and securities exchanges subject to regulation by the CFTC and the SEC. Under current regulations, trading futures on debt indices is essentially prohibited.
PRUDENTIAL PAPER WARNS ON TAX LIABILITIES: In a new white paper, Prudential Financial says that traditional approaches to tapping retirement assets might not be optimally tax-efficient. The document, "Tax Wise Retirement Distribution Planning," suggested that the conventional sequence for tapping such assets - access taxable accounts such as taxable savings accounts first, partially tax-deferred assets (stocks, mutual funds held outside of an annuity or qualified plan) second, and tax-deferred accounts (an IRA, annuity or qualified retirement plan) last - may not be the most economical course for asset longevity or maximum wealth transfer.
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