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SEC reasserts itself on investment-advice standards, but it’s not clear whether it will overtake DOL fiduciary rule
New SEC Chairman Jay Clayton makes request for comment on fiduciary duty one of his first actions, as DOL reasseses its measure.
Are brokers really ready to be fiduciaries?
The securities industry faces plenty of legal risks and compliance pitfalls following June 9, the official start date for the DOL fiduciary rule. Plus, what you need to know from the DOL's latest FAQs.
LPL tweaks pricing of investment products in preparation for DOL fiduciary rule
Changes include level compensation on fixed annuities and unit investment trusts.
Finra censures and fines Sterne Agee for failing to supervise former CEO
Sterne Agee fired James Holbrook, Jr. in May 2014 for allegedly misusing company assets and spending lavishly on perks.
As fiduciary debate slogs on, both sides will be dragged through the mud
If investors are frustrated now, just wait until the Trump DOL comes out with an overhaul of the rule later this year.
SEC solicits comment on conduct standards for advisers and brokers
Commission seeks public comment on investment-advice standards; move suggests more coordination with Labor Department on fiduciary rule.
Advisers question Chamber report about harm from DOL rule
Some financial advisers are questioning the accuracy of a U.S. Chamber of Commerce report that asserts that the…
Wells Fargo, in ‘atypical’ outcome, wins 401(k) lawsuit
The win could provide fodder in other legal defenses, and supports the contention that comparing fund costs to Vanguard doesn't always provide an accurate barometer.
Retirement fees could rise 200% post-DOL, Chamber of Commerce warns
Report predicts 7 million holders of retirement accounts could lose investment advice.
SEC fines RIA $230,000 over conflicts
Agency says firm and its CEO failed to disclose fees.
DOL Fiduciary Rule: Acosta makes it clear that revisions are coming
Though his decision not to delay the June 9 applicability date of the rule might seem like a blow to opponents, Mr. Acosta made it evident that revising the measure is the endgame.
New Jersey fines David Lerner Associates for nontraded REIT sales
Firm will pay $650,000 for suitability, compliance and books and records violations.
SEC in-house judges challenged in DC appeals court that upheld them
The rehearing was granted after the initial decision was appealed by former investment adviser Raymond Lucia, who was banned from the industry for life.
Trump is gutting rules that Corporate America hates
With executive orders, bureaucratic actions and unprecedented use of an obscure statute, the administration has killed or postponed dozens of regulations.
DOL fiduciary rule pushes indexed annuity carriers to develop new products
Insurers are introducing fixed-rate deferred annuities with income guarantees to circumvent BICE.
How regulators will make or break the future of hybrid advisers
In many circumstances, commission-based services offer clients a more economical and practical way to meet investment goals.
DOL fiduciary rule pushing broker-dealer assets to fee-based accounts, away from commissions
Some large brokerages such as Morgan Stanley, Edward Jones and Raymond James have seen a surge in advisory assets a year on from promulgation of the retirement regulation.
Wells Fargo Advisors restricting investments for retirement accounts
Mutual fund sales will be limited to T shares, while municipal bonds, preferred stock and international debt will be prohibited.
Texas legislature passes law protecting seniors from financial abuse
Once signed by governor, law will allow banks and securities firms not to process questionable transactions.
DOL fiduciary rule provides retirement savers with needed protections
The secretary of Labor should improve the regulation, not repeal it
