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Merrill Lynch gives insight to how firms may treat trail commissions post-DOL fiduciary rule
The wirehouse's advisers will lose trail commissions on all but grandfathered brokerage IRA accounts, but may not be hard-hit due to certain procedures to be implemented.
‘Supersized’ fines put Finra on pace for record year
Huge fines against the likes of MetLife and Raymond James are putting the watchdog on a trajectory to beat its prior record by about 20%. (More: So far this year Finra has levied four fines greater than $5M)
Insurance-based broker-dealers plan to use BICE under DOL fiduciary rule
Some firms are rethinking a shift to fee-based compensation and instead are sticking with commission structures that will trigger the need for best interest contract exemptions.
Commodities funds may offer inflation hedge, but many overweight energy
Also, with the exception of some metals funds, most funds don't own the actual commodity.
Finra bars broker whose client ran Ponzi scheme
A broker who was fired in the wake of a $3.1 million civil judgment against him was barred…
Certified Financial Planner Board suspends California adviser for defrauding pro-athletes
Ash Narayan's right to use CFP certification temporarily suspended following SEC complaint
What is clear from DOL’s fiduciary FAQs — and what requires more guidance
Answers released last week give clarity on some issues, like fee-based advice and recruiting incentives, but are obscure on reasonable compensation.
DOL fiduciary rule FAQs emphasize dangerous compensation practices — including for RIAs
Labor Department lays out guidance on questionable compensation practices for brokers — and RIAs. (More: The most up-to-date information on the DOL fiduciary rule)
Hillary Clinton’s tax plan would hit the very rich
If front-runner Hillary Clinton wins, higher taxes could be on the way for advisers' wealthy clients.
Technology can help advisers ensure they are giving ‘best’ advice to meet DOL fiduciary rule
Data aggregation — and knowing what's on both sides of a client's balance sheet — is key to meeting new requirements.
IRA investors may disappear from IPOs
The Department of Labor's fiduciary rule prohibits individual IRA investors from participating in initial public offerings with the assistance of their financial adviser.
Janus in a double whammy as assets flee and revenue drops
Plus: How Clinton and Trump won't save Social Security, more scrutiny for sales charges, and taking the 5% challenge.
SEC charges Broidy Wealth Advisors with overbilling clients, stealing from their trusts
The firm and owner Marc Broidy, of Beverly Hills, Calif., allegedly had more than $1.4 million of ill-gotten gains.
Advisers failing to comprehend impact of DOL fiduciary rule: Massachusetts regulator William Galvin
The Massachusetts Securities Division came to that conclusion after surveying 327 RIAs, whom the commonwealth is offering to train for free.
DOL releases first batch of FAQs on fiduciary rule
Agency answers 34 adviser questions pertaining to the regulation's exemptions, including the best-interest contract exemption. (More: The most up-to-date information on the DOL fiduciary rule)
Ameriprise will stick with IRA commissions under DOL fiduciary rule
CEO says the commission model, which will require more compliance work on the company's part, serves both clients and advisers well. (More: The most up-to-date information on the DOL fiduciary rule)
Ameriprise spends another $7 million in Q3 to get ready for the DOL fiduciary rule
Company has spent nearly $19 million this year preparing for the regulation.
Advisers offer tips for surviving a cybersecurity exam
Firms shouldn't wait for an inspection notice from the SEC to begin fortifying their online systems.
DOL expects to issue final rule on city retirement programs by year end
Following on a rule issued over the summer concerning state plans, the DOL is forging ahead with one governing city-based programs.
Former Oppenheimer broker pleads guilty to insider trading
David Hobson exploited inside information provided by his friend, who worked at a pharmaceutical company.
