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SEC charges former broker with putting customers in unsuitable, risky investments
Demitrios Hall racked up commissions from leveraged trades in ETFs and ETNs for unsophisticated clients.
Experts say DOL fiduciary rule’s fate, timing uncertain, changes likely
However long it takes to play out, panelists at InvestmentNews' Retirement Income Summit doubted the regulation will remain in place in its current version.
Some broker-dealers changing indexed-annuity compensation due to DOL fiduciary rule
Some firms that currently allow advisers to report indexed-annuity sales as outside business are considering bringing it in-house to better monitor their brokers, control risk and potentially take a cut.
Piwowar says it’s time for SEC to ‘reassert its role’ on investment advice standards
As DOL fiduciary rule stalls, Michael Piwowar seeks to have SEC step in.
Seniors get help and $4.3 million from Finra hotline
More than 9,200 calls result in 650 referrals to regulators, 130 to protective services.
Colorado proposes new cybersecurity rules for advisers
Other states also likely to issue requirements for protecting client financial data.
SEC enforcement actions against broker-dealers up 20%
But overall activity in first half of the government's fiscal year remained on par with the same period last year.
Ric Edelman proposes Social Security fix: Allot $7,000 for each baby
Adviser's plan begins with the federal government setting aside money for each newborn baby for 35 years, to be invested for the child's retirement.
Former broker wins $1.8 million arbitration award against PNC Investments for wrongful firing, defamation
Finra panel determined that the allegations against her had nothing to do with the securities business.
Even supporters of DOL fiduciary rule call for modifications
The Investment Adviser Association wants a safe harbor for sales conversations. Meanwhile, Morningstar suggests a replacement for the best-interest contract exemption.
With DOL fiduciary rule looming, Merrill sees surge of AUM
Long-term flows to accounts that charge an asset under management fee were up 54% in the first quarter.
New mutual funds under DOL fiduciary rule could save investors at least 0.50% in returns: Morningstar
T shares and clean shares increase transparency and reduce entrenched conflicts of interest, offering a cost benefit to investors, the fund researcher finds.
SIFMA wants a ‘time out,’ seeking longer delay of DOL fiduciary rule
Meanwhile, the Consumer Federation of America complains that the Trump administration has prematurely made up its mind to repeal or replace the fiduciary measure.
Supreme Court to hear financial adviser case involving disgorgement
Charles Kokesh is appealing a lower court's decision siding with the SEC that gains reaped through securities-law infractions do not fall under the five-year statute of limitations.
Advisers who are already fiduciaries should shout it from the rooftops
Prospects don't always know what it means to be a fiduciary, but they know what they want to hear when asking an adviser if they are one.
What independent financial advisers need from broker-dealers when it comes to the DOL fiduciary rule
Too many independent firms have minimal communication with their advisers on the pending regulation.
Finra arbitration panel awards Wilbanks Securities investor $1 million for misleading sales pitch on variable annuity
Finra arbitrators awarded an investor more than $1 million for what she alleges was a Wilbank Securities Inc.
Raymond James settles Vermont ski resort claims for $150 million
Lawsuit alleged brokerage firm misused investor funds in financing the failed Jay Peak ski resort.
DOL faces tough road in revising or repealing fiduciary rule
Any significant changes would likely spur a lawsuit, and the courts have been tougher on regulators when they reverse course on rules after a new president comes into office.
President Trump signs resolution to effectively kill city auto-IRA rule
The president's advisers have signaled he'll sign a bill to make it unlikely that state auto-IRAs are put into place as well.
