Mr. Clayton, a partner at Sullivan & Cromwell, has represented firms including Goldman Sachs Group Inc., Och-Ziff Capital Management Group and Oaktree Capital Group.
Some indexed annuity distributors are poised to get a shot in the arm from the proposal, which would make it easier for independent agents to sell the annuities under the rule.
The judge dismissed claims of fiduciary breach under ERISA, largely falling in line with judgments from similar cases.
Jay Clayton, who specializes in securities transactions at law firm Sullivan & Cromwell, would likely serve as a "capital-raising facilitator dealmaker," according to a former senior enforcement counsel in the SEC Miami office.
Companies affiliated with Wells Fargo & Co. received the largest of the penalties assessed by the regulator, which has been pursuing a broader crackdown for cybersecurity failures.
The regulator cited a broad breakdown with the firm's failures to supervise client and adviser information.
The Massachusetts senator and Rep. Elijah Cummings have asked the insurance company's CEO for information on sales of term life insurance through Wells Fargo.
Regulator says new type of VA is highly complex and uses structured products — not mutual funds — in the sub account as the underlying investment.
CEO Rob Francais turns RIA sellers into owners
New T shares would feature a uniform 2.5% front-end load and a 0.25% trailing 12-b(1) fee.
$300M adviser launches firm in Naples, Fla., to serve affluent individuals and families.
Copycat lawsuits targeting 403(b) plans, as well as litigation probing a fiduciary's duty to monitor investments, the DOL fiduciary rule, church retirement plans and cybersecurity issues are likely to crop up this year.
While we can't foresee what the next four years may bring, we know that one thing under our control is the disciplined deferral of gains and routine harvesting of losses.
Firm's `100-year-plan' includes future deals in March and June, says CEO Rob Francais.
Mr. Casady will continue to work with Vestigo Ventures, a venture capital firm based in Cambridge, Mass.
These pointers can help advisers reduce confusion for new required minimum distribution clients.
But there are easier ways to give to charity that still afford donors a lot of control.
Amy Webber will become the firm's new chief executive, while Mr. Schwartz takes on the role of executive chairman.
Ms. Yang would be the second consecutive former federal prosecutor to lead the regulator, and, like current chairwoman Mary Jo White, would likely focus more on enforcement than policy making.
