The new fund designed for wealthy investors will be seeded with $20 million
The conflicts of interest ranged from 12b-1 fees to cash sweep accounts to alternative investments
The agency will ‘conduct enhanced transaction testing’ to see if firms are acting in customers’ best interests
The measure follows legislation that would let nonprofits participate in pooled employer plans
The settlement includes $4.4 million in restitutions to harmed customers over the sales of unsuitable VA, mutual fund and 529 products
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DOL rules affecting investment advice and the use of ESG factors may be vulnerable under Biden
Efforts to implement fiduciary rules in New Jersey, Nevada and Massachusetts are in limbo
The free trading app has been applauded for democratizing the market but critics, and regulators, are starting to take a closer look
The new interpretation on the definition of advice has some benefits for plan advisers, and it will be in place even if the rule is halted
The shortcomings were related to supervision of some dually registered reps, according to the regulator
But an investor advocate praises the state for targeting conduct other than outright fraud
Online broker allegedly failed to properly inform clients that it sold their stock orders to high-frequency traders and other financial firms
The complaint marks the first time the state's fiduciary rule is being used to bring charges against a brokerage firm
The rule's effective date falls after the Biden administration comes into power, meaning its ultimate fate remains unclear
The U.S. Court of Appeals affirms an earlier ruling against Morgan Stanley in a case regarding the sale of Puerto Rico bonds
The measure, led by Rep. Andy Levin, would require advisers to consider environmental, social and governance factors in investment decisions
The move could curb shareholder actions related to sustainable investing
Democratic commissioner says the SEC should define ‘best interest,’ clarify conflict mitigation related to Reg BI
Marc Berger, the enforcement unit's deputy director, will serve as acting chief, the agency says
