Securities and Exchange Commission Chairman Mary Schapiro told a congressional panel last Tuesday that spending reductions of the magnitude sought by Republicans would force the agency to cut back investment adviser examinations substantially
House Republicans want the SEC to halt its fiduciary duty rulemaking. Why? The GOP lawmakers say the commission needs to look harder at the impact of a universal standard of care.
Preoccupied by a battle over federal spending, Congress has barely begun considering another piece of budget balancing: comprehensive tax reform
With the economy seemingly on the mend, newbie financial advisers are finding that it's a great time to be breaking into the game
With a number of indie B-Ds shuttering in the last 12 months, nearly 2,400 reps have been forced to find new broker-dealers.
So who's the big winner in the QA3 rep sweepstakes? Right now, it looks like FSC Securities. The AIG unit is in line to snag 50 of the foundering B-D's reps.
In the wake of the recent SEC report that recommends a universal fiduciary standard for personalized retail investment advice, most attention has focused on the potential impact on broker-dealers
On Friday, Securities America's CFO said the brokerage could face bankruptcy if a judge rejected a proposed settlement over soured private placements. The judge rejected the settlement. Now, Securities America's parent may step in to try to bail out the besieged B-D.
For newly minted sole practitioner Andrew J. Feldman, the toughest part about striking out on his own has been coping with the cost of doing business
When Brian O'Neill decided to set up his own registered investment advisory practice, he hired compliance consultants to help him file his SEC registration
Department pushes back deadline for comments by 15 days
The Labor Department and representatives from service providers and pension advocacy groups sparred last week about whether presenting a retirement plan with a fund lineup constitutes investment advice
Are you familiar with the Wells Fargo Profit Formula program? It was designed and originally launched by Wheat First, the Richmond, VA based regional broker dealer bought out by First Union in 1997. Wachovia and First Union merged in 2001, and Wells saved Wachovia from collapse in 2009.
The new consumer protection agency won't extend its jurisdiction to areas involving investment advisers or insurance agents, according to a Treasury Department official involved with setting it up
Once, big firms battled other big firms for the best advisory talent. Now, smaller firms are nipping at their heels as well.
The Securities and Exchange Commission on Friday slapped an adviser and radio personality know as “The MoneyMan” with fraud charges after his firm encouraged clients to invest in promissory notes linked to a company with which he associated.
In a bid to expand its financial-adviser-sold defined-contribution business, BlackRock Inc. is tapping former executives of a retirement-focused broker-dealer that LPL Investment Holdings Inc. bought last year
It is time for the Securities and Exchange Commission to set an even more rigorous net-worth standard for “accredited” investors than the requirements set forth in the Dodd-Frank financial reform law
