Broker Christian S. Gherardi of Miami had sought $16.5 million in damages.
Two months after the insurer provided the names of those owed pension payments, the state has located the majority of them.
Eversheds Sutherland says regulator imposed fourth highest total sanctions over past decade
Regulator investigating withdrawals from bank account of ex-rep Norris Roberts Jr.
The three-judge panel reversed a ruling by a U.S. District Court judge in Los Angeles.
Comment period ends April 27.
SEC has made a crackdown on high-fee funds a top priority, including a program for self-reporting failures.
Group supports the SEC's effort to establish a uniform standard of care.
Consumer Federation of America cites Massachusetts action as one to emulate, in letters to the Labor Department and various regulators.
Authorities say Jeffrey Palish's misdeeds against elderly clients netted him anywhere from $180,000 to $600,000.
Puerto Rican residents charged the firm with fraud and breach of fiduciary duty.
Massachusetts may be just the first state to hold firms accountable.
The university was one of about a dozen prominent schools sued by Jerry Schlichter in 2016.
Rule should provide clarity on role of adviser, enhanced investor protection and regulatory coordination.
SEC Chairman Jay Clayton put a fiduciary-rule proposal at the top of the agency's rulemaking agenda on Friday, saying that the market needs "clarity" on the relationships between financial advisers and clients.
Agency hopes to overcome past divisions on investment advice standard.
Legislation by Rep. Richard Neal would require most small businesses to establish a retirement plan and automatically enroll employees.
Broker Lawrence Barber made unauthorized changes to client's account, state charged
Following fiduciary best practices strengthens client relationships and makes them more enduring.
Legislation requires brokers to act in the best interests of clients.
