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Want to roll a Roth IRA over to a Roth 401(k)? You can’t, yet
Congress is trying to address the incompatibility of the accounts as state auto-IRA programs proliferate.
DOL hearing parses intersection of ‘best interest’ and annuity sales
'It’s crystal clear for the prospective client that the insurance producer is selling,' says an insurance industry representative.
Fed opens the door to rate cuts
After a relentless stock rally, central bank makes its final policy announcement of 2023.
House passes bill to halt ‘bureaucratic’ agency rulemaking
The legislation is unlikely to get the president's signature, and it probably couldn't stop the DOL's fiduciary rule.
Industry opponents call on DOL to withdraw retirement advice proposal
On day one of public hearing, critics argue potential new measure will alienate some clients and is 'overbroad, unnecessary and inconsistent.'
Private equity investors positive on AI, SEC’s private funds rules
LPs are using the technology more and also keen to invest in AI firms.
Fiduciaries must show they can serve Main Street investors to win DOL rule debate
'They’re making x dollars in a brokerage account,' says advisor. 'Just charge the client x but give them fiduciary advice for that x.'
Will rising interest rates spark SEC crackdown?
Some broker-dealers are 'in a bit of a pickle' due to how they invested client cash, industry executive says.
Finra tried to ban firm for 60,000% fee hike. It hasn’t been easy
Alpine Securities' appeal of Finra's ban could threaten a web of self-regulatory organizations that oversee broad swaths of the U.S. economy.
Panel suggests SEC use existing rules to address advisor AI conflicts
'You don’t need to reinvent the wheel here. You’ve got the building blocks to address [AI and predictive data analytics] concerns,' says a member of the advisory committee.
Online brokers misstep in securities lending: Finra
'Who were the accountants? Lending securities can be lucrative,' a compliance executive says.
Social Security in 2024 and beyond
Benefits will be higher next year, but long-term financial concerns persist.
Wall Street still has comms problem despite $2B in fines
Traders continue sharing information using unauthorized messaging platforms.
White House, others question annuity safeguards
Once again, annuities are at the heart of a debate over retirement savings and investor protection. The DOL says state oversight of sales of the products isn’t strong enough.
Michigan advisor runs for House seat
As a financial advisor for more than 30 years, Diane Young has seen fiscal and retirement policies affect her clients. If voters in Michigan’s 10th District elect her, she’ll have a role in shaping the decisions Congress makes.
Billionaire wealth tax plan could be shattered by $14K court case
President Biden's budget request may all come down to a Trump era legal dispute.
Senate Democrats take aim at ‘buy, borrow, die’ with latest billionaires tax
'The loophole they’re talking about isn’t only used by billionaires,' advisor warns.
Bank fined $24M for spoofing in Treasuries market
Two former employees engaged in more than 700 ‘spoofs’ over almost a decade, Finra charges.
SEC wrestles with how to open private-market door to ordinary investors
RIAs could serve as a portal to private placements for their clients, says member of an SEC advisory committee.
Supreme Court arguments cast doubt on SEC’s use of in-house judges
Conservative justices suggest that people accused of fraud by the SEC have a constitutional right to go before a federal court jury.