The Department of Labor is considering extending an exemption that would allow Deutsche Bank to continue to manage U.S. retirement assets for at least another three years, according to a report by Bloomberg Law.
Because a unit of the bank was convicted of wire fraud in the U.K. in connection with a Libor-rigging scheme that also involved other major banks, Deutsche is prohibited from serving as a qualified professional asset manager, or QPAM, a designation essential to manage 401(k) and pension plans. It currently enjoys an exemption from that ban.
The exemption requires Deutsche Bank to adopt more stringent compliance procedures and submit to periodic audits of its activities by an independent auditor.
Financial services compliance consultant ACA Group told InvestmentNews it had four clients report receiving emails that impersonated David Bottom, the SEC's chief information officer, with smaller firms being targeted.
Financial advisor Derek Wittjohann shares the lessons he learned after leaving a major wirehouse to set up his own practice in the second installment of InvestmentNews' new 'Independence Stories' series.
Whether a firm manages $50 million or $5 billion in client assets, building a succession strategy needs to be a priority at least a decade out from retirement.
RIA assets are key for broker-dealers right now.
The former investment advisor misled clients in a decade-long scheme to fund international travel expenses, country club fees, and other personal expenses, according to three government agencies.
Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.
