The agreement calls for the firm to forfeit $463 million and pay $3.2 billion in restitution to victims of the fraud as well as a $2.3 billion penalty.
BNY Mellon says most investors, particularly Gen X and millennials, want their adviser to understand their values.
Berkshire Hathaway reported new stakes in banking giant Citigroup Inc. and in auto lender Ally Financial Inc.
A California law requiring that publicly held companies have a minimum number of women on their boards was struck down on May 13.
The pace of industry recruiting has remained lower since the onset of the pandemic and the work-from-home policies and travel restrictions that followed.
California is looking to expand its auto-IRA program, while Missouri, Arizona and Hawaii are considering joining the club.
'This space, crypto markets, is a highly speculative asset class,' the SEC chairman said Monday at Finra's annual meeting.
Fidelity estimates a 65-year-old couple retiring this year will spend $315,000 on health care and medical costs throughout their retirement, which is up 5% from its estimate last year.
The defendants, including two who had been barred from the brokerage industry, pocketed more than $75 million.
This month’s #AdviserTech roundup looks at Orion’s acquisition of Redtail CRM, Advyzon’s launch of its Quantum Rebalancer, RightCapital’s new one-page Financial Plan Snapshot and Vanguard’s partnering with American Express.
A mass exodus of money, an $11 trillion wipeout, and the worst losing streak for global stocks since the 2008 financial crisis. The bad news is that it may not be over yet.
Over the years, some have become convinced Reg BI is a significant step up from brokers’ previous suitability standard. Others remain skeptical that it’s tough enough to curb broker conflicts.
Now is the time to make sure you are delivering true adviser value, and that your clients understand what that is.
It’s not clear when the agency will announce its first major enforcement actions regarding recommendations brokers make to customers, the substantive heart of the regulation.
After 35 years in the industry, Hays is retiring. He'll be replaced by Sol Gindi, who will also head the Wealth & Investment Management client relationship group.
InvestmentNews spoke with Weyrauch about his role at Citizens and the firm’s vision for growing its financial advisory business.
The insurance company is now offering its own line of rainy day funds for employees.
Ian Delahunty bought a leveraged exchange-traded note and owned it for 199 days rather than the day or two it was meant to be held.
A pair of studies proves that millennials are better prepared financially than people realize.
Steven F. Muntin, 57, had his own independent RIA, Executive Asset Management Inc., which had $26 million in client assets, according to the SEC.
