Flurry of legislative efforts to kill the controversial rule likely to fail, and the rule is a question of when, not if.
Independent financial advisers should heed two upcoming rules that may require operational changes, as well as recognize the overall aggressive regulatory environment coming out of the SEC.
While the House has been active considering similar legislation, this marks the first time the Senate is jumping into the fray.
The two bills would require Congress to approve the rule. Fight on a best-interests standard is now split straight down party lines.
Implementing the standard on retirement accounts could reduce annual revenues by more than twice current estimates, according to a Morningstar report.
Experts think the top candidates will have SEC experience.
Though fines dropped last year, experts think the regulator's revised sanctions guidelines will mean an upward trend in penalties as well.
Advisers can help elderly clients avoid being a target, securities regulator says.
'Kasich has been my favorite all along,' the billionaire money manager said.
Organizations that dominate lobbying expenditures also donate the most to political campaigns. Leading the charge are NAIFA and the ICI, while TD Ameritrade contributed just $9,000.
<i>Breakfast with Benjamin</i> These days, running for president means talking tough about Wall Street reform.
2,041 advisers surveyed by <i>InvestmentNews</i> weigh in on the presidential election
Regulator bars owner of Total Wealth Management, Jacob Cooper, known as 'Main Street Madoff' by former clients, and holds him liable in case where losses are expected to total as much as $44 million.
The controversial financial guru said the Labor Department rule would "kill" the middle class' ability to get retirement advice.
A Labor Department rule that would raise investment advice standards for retirement accounts took its last step toward finalization Thursday night.
Firms may have to spend more money and more management time upgrading their archiving systems
<i>Breakfast with Benjamin</i> The SEC is poised to wrap up its case against adviser Dawn J. Bennett, despite Ms. Bennett and her lawyers skipping the trial.
Dawn Bennett skips the start of her trial on grounds that it's unfair for SEC to use in-house administrative law judges.
