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Finra bars broker-dealer owner for false testimony, fabricated documents
Frank H. Black and his firm, Southeast Investments N.C. Inc., failed to retain business-related emails and to achieve compliance with applicable securities laws, according to the Finra panel's decision.
Prospects for independent adviser exams fade with increased SEC efficiency, Piwowar resistance
The regulator's acting chairman says he prefers that agency employees conduct exams. (More: SEC enforcement unit bracing for budget cuts under Trump)
The accredited investor rule should be redefined, not erased
If nothing else, the dollar amounts should be adjusted for inflation.
DOL removes consumer FAQs on fiduciary rule from its website
The FAQs encourage investors to press their advisers about whether they are fiduciaries.
Securities America to pay another $1 million to Medical Capital Holdings investors in Massachusetts
The firm will make a final payment to investors who bought promissory notes issued by MedCap, a $1.7 billion Ponzi scheme sold mainly through independent broker-dealers.
Dodd-Frank reform may be put on back burner
President Trump did not mention it in his speech Tuesday, and a replacement bill is not getting the support it needs to make it through Congress
Piwowar blasts DOL fiduciary rule, says SEC should have ‘comprehensive discussion’ of advice standards
Acting Securities and Exchange Commission Chairman Michael Piwowar blasted the Department of Labor’s fiduciary rule and showed skepticism…
DOL proposes 60-day delay to fiduciary rule
There will be a 15-day comment period on the proposal to extend the applicability date of the rule, beginning from the time the proposal is published in the Federal Register, scheduled for Thursday. The proposal also invites a 45-day comment period regarding the "examination described in the President's Memorandum."
The Hartford wins excessive-fee lawsuit
The lawsuit is similar to ones filed against other insurance companies in recent years, which challenge the fee levels received by the firm versus a fund's subadvisers.
Advisers’ confidence in Trump soars after president’s address to Congress
After an erratic five weeks in office, Mr. Trump's speech makes him 'more presidential.'
Raymond James loses $762,000 penny stock arbitration claim
More than 20 claimants initially sought $8.8 million in damages and costs after a Morgan Keegan adviser allegedly misappropriated their funds.
Delay of DOL fiduciary rule likely to extend beyond 60 days
Agency will need more than two months to conduct assessment of regulation directed by President Trump.
OMB concludes review of measure delaying DOL fiduciary rule
In a posting on its website on Tuesday morning, the Office of Management and Budget also noted that it changed the designation of the delay to "economically significant."
Delay of DOL fiduciary rule faces new challenges
Office of Management and Budget designates the delay 'economically significant,' making it more difficult for DOL to justify stall.
Fate of fiduciary rule rides on regulators’ political savvy
Acting Securities and Exchange Commission Chairman Michael Piwowar outlines ways to help 'forgotten investor,' but fiduciary duty is conspicuously absent.
5 ways to build quality financial plans amid DOL fiduciary rule uncertainty
The firms and advisers that are able to embrace the shift from a sales culture to one comprised of goals-based planning will thrive.
More reps plan shift to fees post-DOL: Cerulli report
Nearly two-thirds (64%) of broker-dealer advisers plan to shift more of their business to a fee-based model if the Department of Labor's fiduciary rule is put into effect, according to a report from Cerulli Associates.
State, local auto-IRA initiatives benefit ‘forgotten’ workers
Automatic-enrollment IRA programs would encourage employees to save for retirement.
SEC’s Piwowar calls for expanding participation in private placements to help ‘forgotten investor’
Michael Piwowar says opening sales of private placements to ordinary investors would boost returns, portfolio diversification
Industry plaintiffs appeal Dallas court’s decision to uphold DOL fiduciary rule
Opponents of rule seek to overturn loss in district court.
