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Best interest is in the eye of the beholder in debate over DOL fiduciary rule
Both sides claim they're doing what's best for the average investor.
Appointing and monitoring a 401(k) investment manager under ERISA
A recent district court decision has implications for how retirement plan sponsors should monitor their adviser.
Democrats diss draft legislation to scrap DOL fiduciary rule, set best-interest advice standard for brokers
Bill's sponsor, Republican Rep. Ann Wagner, still hopes to get bipartisan support.
LPL to roll out new mutual fund platform as DOL fiduciary rule takes effect
Broker-dealer hasn't yet determined whether the platform will be mandatory when it launches next year, given the fluid regulatory environment.
Finra hits State Street with $1.5 million fine for electronic record-keeping violations
Regulator censured the firm for failing to maintain copies of messages.
Seeking to protect client assets, SEC may have hurt the client
The custody rule can put unnecessary burdens on both the adviser and the client.
Promises by Congress to protect retirement-savings incentives don’t ease advocates
Concern about 'Rothification' as part of larger tax reform spurs lobbying.
SEC’s Jay Clayton makes fiduciary duty a priority, acknowledges issue is ‘complex’
In his first major speech as agency chairman, he says a guiding principle is 'long-term interests of Mr. and Ms. 401(k).'
Rep. Wagner drafts bill to kill DOL fiduciary rule, replace it with best-interest standard
Legislation would require brokers to 'avoid, disclose or otherwise reasonably manage' conflicts of interest.
Northeast Securities to pay $1.8 million in Finra arbitration claim
Claimants wanted $3 million for alleged fraud, churning and negligence in bond trades
GOP to keep Obamacare taxes on wealthy in latest health-care bill: sources
Though the House version would repeal the 3.8 percent tax on net investment income and 0.9 percent Medicare surtax, the Senate is trying to win over moderate holdouts.
American Airlines reaches $22 million settlement in 401(k) self-dealing lawsuit
The settlement, if approved, would be among the largest in cases alleging enrichment due to use of proprietary investments.
Fund manager MFS sued for self-dealing in its 401(k) plans
The plaintiff claims the plans were "loaded" with proprietary mutual funds, and 98% of the investable assets were held in company-affiliated investments.
Tax reform uncertainty grows as congressional calendar shrinks
Several obstacles await lawmakers, including an ongoing health-care fight and deadlines to keep the government running, let alone divisions among Republicans on the basic parameters of a tax bill.
Health-insurance reform uncertainty hampers advisers’ ability to counsel to clients
Advisers preparing new financial plans are flying blind when it comes to clients' health-care needs.
Supreme Court could put pressure on Finra class-action policy
Finra may rethink its ban on class-action waivers in arbitration clauses, depending on whether the court sides with the Trump administration.
How did the DOL fiduciary rule change the world for 401(k) advisers?
The rule is a blip for elite plan advisers, but there are a number of ways inexperienced advisers are reacting.
Who the winners are in the implementation of the DOL fiduciary rule
Certain firms may find themselves facing even greater competition as they focused more on compliance instead of strategy.
Oregon becomes first state to launch auto-IRA program
Some see the implementation as a watershed moment for these retirement plans.
DOL defends fiduciary rule in brief to appeals court in industry lawsuit
But the agency does not protect a provision of the regulation that allows class-action lawsuits.
