Letter directs top regulator Richard Ketchum to do more to stop repeat offenders and the firms that hire them.
Finra's CEO was one of the sharpest critics of the proposed rule, but now he's praising the Labor Department. <i><b>(More: <a href="http://www.investmentnews.com/section/fiduciary-focus" target="_blank">Coverage of the DOL rule from every angle</a>)</i></b>
On tap for 2016: Fiduciary duty comes to fruition?
Sweep reminds broker-dealers they're going to be held accountable for hiring brokers who prove not fit to work in the industry.
Finding a policy that works in the best interests of your clients not as hard as you think
Congressional threat to the Labor Department's retirement advice regulation gets nixed by White House, while D.C. court says it will hear a case against the rule.
Third legal complaint against the Labor Department's regulation to raise retirement advice standards is filed in a Texas court by insurance-industry organizations.
The DOL fiduciary rule will forever change financial advice, and the industry now faces the challenge of adapting to the new regulation.
The mergers we may see as a by-product of the DOL rule are likely to be trickier &mdash; and more permanent &mdash; affiliations, and advisers will need to do their homework.
The legislation, which would automatically enroll employees without retirement-plan access, is a companion bill to one put forth in the Senate earlier this year.
The Labor Department's determination to move ahead with the fiduciary rule in spite of others' grave misgivings has left us with no other choice than to bring this issue before a court of law.
Even those fighting the regulation say advisers need to start making business decisions to meet April 2017 implementation.
Registered investment advisers can be held liable if they don't act in clients' 'sole interest' when it comes to retirement advice.
Firm's moves stem from error it made in voting on the 2013 buyout of Dell.
Deputy Assistant Secretary Timothy Hauser was scheduled to participate but abruptly backed out late last week, after the Insured Retirement Institute joined a lawsuit seeking to vacate the rule.
The National Association for Fixed Annuities levies similar arguments to the initial suit, filed just one day earlier.
Although the Labor Department doesn't have enforcement authority over IRAs, it does have interpretive authority, observers say.
If a firm's transition to the Best Interest Contract Exemption is done using paper contracts and disclosure forms, it could be costly, difficult and risky to manage.
More than 30,000 non-traditional ETF transactions, totaling approximately $1.7 billion, were carried out by Oppenheimer representatives, according to the regulator.
Bipartisan legislation would make it possible for students to save funds from stipends or fellowships in an IRA.
