Agency says Utah broker-dealer failed to document suspicious microcap stock trades
The SEC extracted almost $3 billion in disgorgement payments in 2016.
Fueled in part by succession planning among older advisers, the registered investment advisory space saw a record 44 mergers and acquisitions during the first quarter of 2017.
Biggest concern is threat of excessive litigation due to best-interest contract exemption.
<i>InvestmentNews'</i>exclusive rankings of the top fee-only registered investment advisory firms
Brokers will be paid a flat rate based on clients' retirement assets, not transactions.
The firm has created a new role, head of the field, and eliminated division-level leadership positions
New SEC Chairman Jay Clayton makes request for comment on fiduciary duty one of his first actions, as DOL reasseses its measure.
The securities industry faces plenty of legal risks and compliance pitfalls following June 9, the official start date for the DOL fiduciary rule. <b>Plus,<a href="http://www.investmentnews.com/gallery/20170523/FREE/523009998/PH/dol-fiduciary-rule-what-you-need-to-know-about-acostas-decision" style="color:#b10816" target="_blank"> what you need to know from the DOL's latest FAQs</a>.</b>
Experts in the financial industry, unsurprisingly, have a lot of suggestions for smart financial gifts.
Any trend toward smaller homes would be welcome news in many U.S. housing markets.
"Don't blindly provide it because you're asked for it," says one expert.
Changes include level compensation on fixed annuities and unit investment trusts.
Sterne Agee fired James Holbrook, Jr. in May 2014 for allegedly misusing company assets and spending lavishly on perks.
Fidelity and Empower announced first-of-their-kind services in recent months, hoping to capitalize on demand for greater personalization and generate new sources of revenue.
Commission seeks public comment on investment-advice standards; move suggests more coordination with Labor Department on fiduciary rule.
If investors are frustrated now, just wait until the Trump DOL comes out with an overhaul of the rule later this year.
The firm will pilot the program with 500 advisers in July and expects to roll it out to all of them by year-end.
