Regulator says Finra and MSRB should issue rules 'requiring the disclosure of mark-ups and mark-downs.'
An attempt to get Democratic buy-in on legislation that would force the DOL to hold off on finalizing its rule until the SEC acts died on the vine at a House hearing.
Two House subcommittees will hold a joint hearing Thursday focusing in part on a bill written by Rep. Ann Wagner to thwart efforts to raise investment advice standards for retirement accounts.
Compliance could be costly, especially for small advisory firms.
Contributions from investment advisers, however, slow down.
BlackRock says rule favors index funds, Vanguard finds 'serious problems' and Fidelity wants proposal simplified.
<i>Breakfast with Benjamin</i>: William Dudley, president of the New York Fed, says delaying a rate hike until 2016 'will be awkward.'
Married brokers claim they were retaliated against after reporting alleged illegal sales tactics at the firm's midtown Manhattan office.
Claimed funds were invested conservatively but he was pursuing risky day-trading strategy.
The wirehouse failed to comply with anti-money-laundering requirements by not properly vetting some 220,000 new client accounts over a nine-year period, Finra charged.
Privately held firm run by hedge fund manager Ken Griffin is speaking up to regulators and sometimes disagreeing with other market players.
<i>Breakfast with Benjamin</i>: Despite the mood on Wall Street getting downright gloomy, some economists still think the Fed will raise interest rates next month.
The regulator is examining a broad range of possible conflicts, from production incentives and mutual fund fees to recruiting bonuses.
The department's recently completed four-day marathon of hearings featured the usual suspects trotting out the usual arguments — and self-funded studies — for or against the rule.
<i>Breakfast with Benjamin:</i> One troubling result of Thursday's big stock drop, in which the Dow industrials lost 358 points, or just over 2%, is that the market's oldest timing signal flashed a sell signal.
Agency finds a significant number of inappropriate sales.
Michael Szafranski was the financial adviser to the scheme's mastermind, Scott Rothstein.
Interinvest founder hid his interests in penny stock companies he put clients in, agency says
An acquisition of Barclays' U.S. wealth unit would add $47 billion in assets and 249 advisers who focus on ultrahigh-net-worth clients, filling a gap in Stifel Financial CEO Ron Kruszewski's advisory business.
Senators say legislation would act as a deterrent to fraudsters and particularly hamper repeat offenders, whose fines could triple.
