The Securities Industry and Financial Markets Association (SIFMA) is continuing to encourage the Securities and Exchange Commission to impose a uniform fiduciary standard that would apply to broker-dealers, reports onwallstreet.com.

Charles Schwab’s non-profit arm, the Charles Schwab Foundation, has donated $500,000 to create a simulated trading floor at the University of California, Irvine, reports RIABiz.com.

The termination of the payroll tax holiday at the start of the year will cost Americans $125 billion in taxes in 2013, reports Bloomberg.