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Aon Hewitt sued for 401(k) ‘kickback’ scheme with Financial Engines
The record keeper joins three others — Fidelity, Voya and Xerox — in being sued over its relationship with the advice provider.
DOL fiduciary rule not yet caught up in Trump maelstrom
Speculation is mounting as to what is taking the administration so long to act. Is President Trump waiting for his DOL secretary nominee to be approved? Or is he finding it harder to repeal than expected?
FSI expects a more business friendly environment in 2017
Lobbying group for independent broker-dealers lays out its annual agenda
Robert W. Baird & Co. must pony up $23.5 million to Wells Fargo in raiding case
Size of award called "extraordinarily rare" by one securities attorney. (More: Brokerages walking away from arbitration awards)
Dodd-Frank law may be Trump’s next big target
Calling it a "disaster," he claimed it has been responsible for cutting off loans to small businesses.
Regulators use big data to turn up enforcement heat
Data analytics could help them more easily uncover breaches of suitability in investment product sales.
Too soon to tell how best to invest under Donald Trump presidency
Markets have risen since the president was elected, but his personality makes it difficult to discern when he is serious and when he is beating his drum for effect.
And the Golden Bull goes to …
Not every adviser can be nominated for a Bully, just those who displayed a complete disconnect from their ethics in the course of impersonating a client or some big shot.
DOL fiduciary rule hastening death of L-share variable annuities
Insurers are speeding up their closures of L-share products as regulators crack down, but are quickly introducing new fee-based contracts.
The Trump Effect: How the president will impact financial markets
Donald Trump has proved he can move stock prices on a whim, but it's his stance on trade that might be of greater importance to investors.
Smarter sellers, buyers bog down RIA M&A activity
New Fidelity report calculates 104 deals last year compared to 138 in 2015, partially due to growing gaps between what buyers are willing to pay and what sellers are seeking.
Morgan Stanley to move ahead with changes despite uncertainty around DOL fiduciary rule
The firm will make “many” of the pricing and product design changes it planned last year, according to a memo sent to employees.
Sen. Elizabeth Warren alleges Labor Department removed website tied to Wells Fargo investigation
Ms. Warren said she received a “page not found” error this week when she tried to access a site set up to track complaints from the bank's employees.
Adviser, fund groups call on SEC to review rules and ‘give us a breather’
Regulator should assess whether requirements on the books — including for advertising, custody — are working, and just generally slow down, according to advocates for the profession and industry.
Adviser banned for cherry picking trades to reward himself over clients
Michael J. Breton allegedly cost clients $1.3 million by placing trades through a master brokerage account and then allocating profitable trades to himself while placing unprofitable ones into client accounts.
SEC hits Citigroup advisory unit with $18.3 million penalty for overbilling clients
From 2000 until 2015, Citigroup overcharged about 60,000 advisory client accounts and was unable to locate another 83,000 client contracts that were opened between 1990 and 2012.
JPMorgan sued for self-dealing in its 401(k) plan
Plan participant claims use of expensive proprietary funds cost employees millions in retirement savings.
What financial advisers can do about a U5 disclosure
Given the current regulatory environment and increasing utilization of BrokerCheck by the public, a broker must take ownership of his or her CRD.
SEC charges New York brokerage firm and compliance officer for penny-stock scheme
The brokerage allegedly failed to file suspicious activity reports in a massive pump-and-dump scheme
FSI renews efforts to scrap DOL rule and push for universal standard by SEC
The trade group for independent broker-dealers will take the offensive in trying to shape the kind of fiduciary standard it believes will be advantageous for its business in the future.
