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.
Strategists expect municipal bonds to best Treasuries during the four-month window from May until August, following a historical trend.
Elsewhere, Raymond James adds two advisors from Edward Jones and LPL, forming an LGBTQ+ focused practice in New Hampshire.
Leading estate-planning tech provider Vanilla has also unveiled key AI upgrades to help its advisor users.
Meanwhile, Bellevue, Washington-based Parcion Private Wealth strengthens its leadership with two C-level additions.
A statement highlighting benefits of a threefold increase in the deduction adds the Republican's voice to thorny tax debate.
From direct lending to asset-based finance to commercial real estate debt.
RIAs face rising regulatory pressure in 2025. Forward-looking firms are responding with embedded technology, not more paperwork.
